German rebar prices come down
German rebar prices have seen the drop some market participants were expecting, after defying the downtrend in neighbouring countries for months.
Base prices have now largely undercut the mark of €400/tonne ($460), which had long remained unbroken, with some deals peaking at €430/t. A buyer at a Ruhr-based distribution/bending group tells Kallanish of base prices between €380 and €390, which together with the average size extra of €265 would result in €645-655/t delivered.
While smaller customers might still have to expect higher prices, the break through the €400/t barrier is confirmed from southern Germany, where price levels tend to be lower than in the Ruhr. A manager there attributes the decline to the preceding fall in scrap prices, which a month ago came down by more than $50/t in Rotterdam.
In Germany, scrap prices did not fall quite as dramatically, but mills have meanwhile factored them in to some extent, the Ruhr buyer says. German scrap merchants resisted the drastic downtrend in export prices by lowering only limited volumes by $50/t, but demanded higher prices when mills needed more supply, he explains.
The slide in rebar prices has occurred rapidly, which the buyer attributes to typical purchasing behaviour in times of low demand: “Once the trend goes down, people buy even less than before,” he says.
He also notes that Riva Germany is now back to providing a larger range of products and sizes. While the EAF at Riva Hennigsdorf remains idle, the rolling mill has been temporarily reactivated to meet demand from customers.
German rebar prices climb further
Germany’s rebar mills have given their prices another push in April, which appears to have been accepted in the market, Kallanish notes.
Attempts to bring up base prices over recent months received limited success, not reaching the €400/tonne ($455) target until March. That mark has now been passed, owing probably to the prolonged shutdown of the liquid phase at Riva Hennigsdorf.
The mill near Berlin stopped steel production at the end of December and introduced short working hours for its staff. Production was not restarted at the end of March as originally planned, with the suspension continuing until further notice.
Buyers currently see the base price at €420/t. Adding the fixed size extra of €265, the delivered price would be at €685/t.
“With Henningsdorf out, two of the other producers were able to assert higher prices, and I believe prices are trending up further,” one manager tells Kallanish. Paradoxically, the trend could also be stopped by Riva’s German subsidiary as soon as it decides to rejoin the improved market and restart production, the manager adds.
Romania’s rebar spot prices rise further, but sole rebar producer’s prices remain firm
This week, the upward trend in Romania’s rebar spot market has continued, while the sole Romanian sole rebar producer and the wire rod spot segment have kept offers stable from the previous week.
Although the start of the new EU quota period resulted in a rise in pricing, especially in the rebar segment, this increase did not translate into increased demand and trading volumes remain limited in the domestic market.
According to market participants, as the Easter weekend approaches, prices may fall slightly since purchasers, seeing big price increases, are less likely to want to buy at the current prices.
The sole domestic mill’s rebar price is stable week on week at €590-605/mt ex-works. On the other hand, Romanian rebar traders have increased their offers by €10-25/mt week on week to €610-630/mt ex-warehouse.
In the wire rod market, many traders have maintained their pricing at €580-595/mt ex-warehouse from last week as demand has remained unsupportive of an increase.
Meanwhile, in the import market, while most offers remain flat and no purchases have been concluded since last week, Bulgarian suppliers have increased their offers. According to sources, Bulgaria has raised rebar offers to roughly €635-640/mt CPT, up from €610-620/mt CPT last week.
However, Egyptian suppliers have kept rebar and wire rod prices unchanged week on week at €550-555/mt CPT and €560-565/mt CPT, respectively. Furthermore, Greece’s rebar and wire rod offers remain stable week on week, at €620-625/mt CFR and €610-615/mt CFR, respectively.
In contrast, this week Turkey’s average rebar price has fallen by €10-15/mt to €540-560/mt CFR Romania, based on a €1 = $1.11 exchange rate and freight costs of around €25-30/mt.
Italian rebar prices edge up on improved sentiment; Spanish prices flat
Meanwhile, in the Southern European wire rod market, prices remained broadly stable on Wednesday, sources added.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar) domestic, exw Italy was €585-640 ($644-704) per tonne on Wednesday, up by €10 per tonne from €575-630 per tonne on March 26.
Small increases in offers and trades were reported in the Italian rebar market, according to sources.
“The Italian rebar price is increasing in terms of both offers and tradeable levels. Demand had been good last week, but now customers are in wait and see mode. We will wait for the first days of April to see if producers will be able to consolidate the uptrend,” a buyer source told Fastmarkets.
First-hand deals were reported across the Italian rebar market at €585-640 per tonne EXW.
Producer levels were reported at €585-615 per tonne EXW, while other sources in the market indicated higher price levels of €610-655 per tonne EXW.
At the same time, small-tonnage exports of rebar were reported from Southern Europe to Western Europe at €590 per tonne FOB.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered, Spain was €620-640 per tonne on Wednesday, unchanged since March 12.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was €605-620 per tonne on Wednesday, widening down by €5 from €610-620 per tonne on March 26.
“We have seen some small improvements in demand and outlook. Domestic scrap costs are high and in certain categories of scrap we have seen considerably lower availability, and it was not easy to find what we needed,” a wire rod producer source told Fastmarkets.
Fastmarkets’ monthly price assessment for steel scrap E40 shredded, delivered to mill Italy was €340-365 per tonne on March 28, up from €330-350 per tonne on March 3.
Italian domestic scrap costs have been increasing since the beginning of the year, sources said.
Energy costs are decreasing, however, compensating for higher feedstock costs, according to the wire rod producer source.
Participants saw signs of an improvement in demand in the wire rod market.
But they also noted that there is minimal appetite for imported wire rod in the Southern European market.
Italian rebar makers seek increases in slow market
Following a decline of nearly €30/tonne ($32.5/t) since February, Italian rebar transactions have now stabilised on a weekly basis. Demand has dropped notably amid weather disruption.
Two buyers in the Rome area indicate that adverse weather conditions are causing delays at several construction sites, which is in turn impacting their rebar purchases.
Last week, steelmakers announced price increases, but contracts have not yet reflected the hikes, Kallanish hears.
The current asking price among mills is set at €340/t base ex-works. Domestic rebar contracts are at €300-310/t ex-works. According to one agent, a number of buyers are still receiving material at around €300/t and are unwilling to pay the increases. Effective values are at €560-570/t ex-works on average, which includes an average of €260/t for size extras.
Domestic mesh contracts are also witnessing stability at €390-400/t depending on volumes. This does not account for transport costs or size extras, which are estimated at around €300/t, according to sources.
Polish rebar, wire rod prices slightly lower despite mills’ attempts to push for higher offers
Rebar
Official offers from Polish mills for March-production rebar were heard at 2,700 zloty ($699) per tonne CPT, according to sources.
One producer source told Fastmarkets they could drop the target level to 2,650 zloty per tonne CPT in some cases, citing this as the lowest level they would accept due to high production costs and rising scrap prices in the Polish market.
But some transactions were reported at 2,620-2,630 zloty per tonne CPT during the assessment week, Fastmarkets understands.
Buyer estimations for the tradeable market level were at 2,620-2,650 zloty per tonne CPT.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland was 2,620-2,650 zloty per tonne on Friday, down by 20-30 zloty per tonne from 2,650-2,670 zloty per tonne on February 28.
Prices for rebar in the Polish secondary market were heard at 2,650-2,700 zloty per tonne CPT.
One distributor source told Fastmarkets that demand for rebar remained comparatively weak and although slightly better compared with the last weeks of February.
“Only the nice weather is helping for now,” the source added.
Regarding imports, one Ukrainian supplier was heard to have stopped offering rebar to Poland due to some mill repairs.
Wire rod
Polish mills were heard offering March-production low-carbon drawing quality wire rod at 2,800-2,900 zloty per tonne CPT, sources told Fastmarkets.
No fresh transactions were heard during the assessment week.
A second distributor source told Fastmarkets that trading had improved slightly compared with the end of last year.
Fastmarkets sources estimated the workable market level at 2,750-2,850 zloty per tonne CPT, with the lower end of the price range considered tradeable for relatively big volumes of around 300 tonnes.
Fastmarkets’ price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 2,750 -2,850 zloty per tonne on Friday, widening downward by 50 zloty per tonne from 2,800-2,850 zloty per tonne on February 28.
Local producers were heard offering mesh-grade wire rod at 2,680-2,700 zloty per tonne CPT, Fastmarkets understands.
In terms of imports, Ukraine was offering mesh-grade wire rod to Poland at €590 ($637) per tonne delivered on the border.
Italy was heard offering low-carbon drawing quality wire rod to Poland at €655-680 per tonne delivered, depending on the destination.
Some offers of low-carbon drawing quality wire rod from the Czech Republic to Poland were heard at €680-700 per tonne delivered.
Spanish rebar prices keep moving up
Spanish rebar prices continue to rise, with levels gradually hiking by €15-20/tonne ($16.18-21.59) since the beginning of 2025. The recovery has been supported by increased demand in the construction sector, which is optimistic now at the start of the high season, sources tell Kallanish.
“Construction activity is resuming in Spain, with most private house building projects having started. The level of demand in the public sector is also higher. Increased activity is observed in the Valencia area, where recovery funds are already being used in the wake of the DANA [last October], Europe’s most catastrophic flood since 1967,” a market participant says.
The Spanish government is also prioritising large-scale infrastructure projects and works in the renewable energy sector, the source observes.
According to one distributor, rebar prices will remain stable in the coming weeks. “It is normal, at this time of the year, that purchases for small buildings improve. The end consumer is realising the market will not change much in March. April mill prices, however, will be subject to the current increase in scrap values,” he adds.
The monthly index for Spanish domestic rebar prices in February increased compared to the previous month, data published by the Spanish Chamber of Commerce show. The index stood at 190.51, up 1.34% on January. It was also up by 10.41% year-on-year. The index is based on a value of 100 in 2014.
16mm rebar is currently offered in Spain at €360-368/t ($353.3-360.5/t) ex-works base. An additional €262/t for size extras and loading expenses sees transaction values at €622-630/t delivered.
Todor Kirkov Bulgaria
Prices broadly unchanged across the Southern European steel longs market
Prices were broadly unchanged in the Southern European wire rod and rebar markets during the week to Wednesday February 26 amid high energy costs but weak demand, Fastmarkets heard.
Slow demand resulted in customers showing resistance to price rise, while mill margins remained under pressure from high input costs. Mills are expected to target higher offers in the coming week, sources said.
Fastmarkets’ price assessment for steel reinforcing bar (rebar) domestic, exw Italy was €590-645 ($619-677) per tonne on Wednesday, widening downward by €10 per tonne from €600-645 per tonne one week prior.
Deals were reported at €590 per tonne exw.
Market indications were in the region of €590-645 per tonne exw in Northern Italy, with some higher offers reported at €630-655 per tonne exw. These higher offers were not considered workable by the market.
Increasing energy costs have pressured mill margins, sources said.
“[The Italian market] looks to be stable both from the point of view of demand, deals closed and offer levels,” one buyer source told Fastmarkets. “From my side, I estimate a price rollover…Rumors in continental Europe are from stable prices to increasing prices for March sales. We will see.”
“Rebar prices are slowly decreasing. We are today at €600 per tonne, but someone is offering large quantities at €10 per tonne lower. Mills intend to put up the price, but the market is not ready to accept these higher prices,” a second buyer source said.
Demand was reported to be relatively stable.
“Demand is not so bad. I think we will close February with the similar demand levels to January,” the second buyer source added.
Weak appetite because of seasonality could begin to lift with the approach of spring, but there was no short-term improvement in consumption from the construction sector, according to some sources.
Energy costs dramatically rose between January and February, with current price levels not seen since 2022, sources said.
Bearish sentiment regarding low consumption and high costs was echoed in the short-range outlook published by the International Rebar Producers and Exporters Association (IREPAS) on February 7.
The outlook highlighted challenges for the European steel market due to ongoing low demand and high costs in the region, combined with increasingly protectionist measures elsewhere.
“The EU steel market is suffering from continuing low demand for long products, with European mills locked in a cycle of poor demand and high costs. The construction market in most EU countries is still very slow due to seasonal reasons, but also in general due to much less demand from investors,” the outlook said.
Turkish scrap prices edged upward week on week amid steelmakers’ restocking for March.
Fastmarkets’ calculation of its daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $355.54 per tonne on Wednesday, up from $351.58 per tonne a week earlier.
Despite Turkish mills still struggling with low finished steel sales in their domestic markets, they continued to restock scrap for March.
Meanwhile export rebar prices were reported from Southern Europe at €605-610 per tonne FOB.
A deal was reported by an Italian producer at €605 per tonne FOB.
Meanwhile, Fastmarkets’ price assessment for steel reinforcing bar (rebar), domestic, delivered, Spain was €630-640 per tonne on Wednesday, narrowing upward by €10 per tonne week on week from €620-640 per tonne.
Meanwhile, Fastmarkets’ price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe was €585-600 per tonne on Wednesday, down by €20-25 per tonne week on week from €610-620 per tonne.
A deal was reported by an Italian producer at €600 per tonne.
Market participants in Spain pegged the market at lower levels of €585-600 per tonne.
Higher offers of €605-610 per tonne were reported in Italy after the assessment deadline with mills targeting price rises for March sales, Fastmarkets heard.
Wire rod import offers were reported at €630 per tonne from the Far East, but these offers were considered unworkable.
Market participants indicated the market at €595-605 per tonne.
Polish rebar, wire rod prices increase on bullish sentiment among producers
But buyers shared mixed expectations about the future market development.
Rebar
Polish mills were heard offering March production rebar at 2,700 zloty ($677) per tonne CPT during the assessment week. This is also largely the level at which the material was offered in the previous week.
Industry sources told Fastmarkets that mills were quite firm on their offers, willing to grant some discounts by just 20-30 zloty per tonne.
“With these offer levels, local mills are trying to compensate for the high scrap and energy prices in the domestic market,” a distributor source told Fastmarkets.
According to industry sources, the Polish market for domestic scrap has become more active recently with some rebar producers needing to replenish their stocks. Besides, the steel slab and plate producer Huta Czestochowa has resumed operations recently and has also started to purchase scrap more actively.
This increased the demand in the domestic market and pushed the local scrap prices higher by 90-100 zloty per tonne compared to the previous month.
Fastmarkets’ sources estimated the workable market level for rebar at 2,650-2,670 zloty per tonne CPT, with the lower end of the price range considered achievable for bigger volumes.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Poland, was 2,650-2,670 zloty per tonne on Friday, up by 20-30 zloty per tonne from 2,620-2,650 zloty per tonne on February 14.
But industry sources shared mixed opinions on how the market will develop.
“It seems that the sentiment has improved, and most market participants expect that rebar prices will be stable to slightly higher in the short run,” the distributor source told Fastmarkets.
Prices were also supported by slightly better demand.
“Even in Germany, there is not such a big increase in rebar prices,” the source added.
A producer source confirmed that demand was “not low” and “much better now” than in January.
But a second distributor source was more pessimistic.
“I think the prices will fall again by mid-March. The demand will improve more significantly in May/June, when [more] money from EU funds [are expected to enter the Polish economy],” the second distributor said.
In terms of imports, German mills were heard offering rebar to Poland at €630 ($659) per tonne delivered.
Wire rod
Prices for Polish low-carbon drawing quality wire rod also increased during the assessment week, supported by bullish sentiment among producers.
Polish mills were officially offering the material at 2,900 zloty per tonne CPT.
Fastmarkets’ sources estimated the workable market level at 2,800-2,850 zloty per tonne CPT.
One buyer source told Fastmarkets that for small volumes Polish mills would even insist on 2,900 zloty per tonne CPT.
Fastmarkets’ price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 2,800-2,850 zloty per tonne on Friday, up by 30-50 zloty per tonne from 2,750-2,820 zloty per tonne on February 14.
Regarding imports, offers for mesh-grade wire rod from Ukraine to Poland were heard at €620 per tonne delivered Poland.
Offers of low-carbon drawing quality wire rod from Italy to Poland were heard at €660 per tonne delivered, but according to sources a discount of €10 per tonne could be achieved in negotiations.
The Czech Republic was heard offering low-carbon drawing quality wire rod to Poland at €660-680 per tonne delivered.
German rebar mills try to increase prices again
German rebar mills tried to increase offers over previous contracts last week, with the modest rise seen as more realistic than those announced in December.
The base price would now be at €380/tonne ($398/t), which plus the standardised size extra of €265/t brings the delivered price to €645/t.
“The mills did not succeed with their wish to push up prices in the new year, so now this is a new run-up,” one buyer tells Kallanish. In combination with elevated prices for scrap and electricity, he thinks it highly probable the mills will prevail. “We might soon see €650/t delivered,” he says.
Others do not see a new price level coming soon and have not heard of higher prices, given the low level of inquiries and orders. One manager says the latest offers he saw last week still put rebar at €360/t and wire mesh at €460/t.
For rebar, the delivered price would be at around €625/t, which other sources consider realistic for recent transactions.
By December, many customers had placed orders for replenishment at base prices well below €350/t, leading to full order books that encouraged mills to target €400/t. This level was however never attained.
The current hike is more likely to succeed, or at least to stabilise prices. One analyst says he sees prices moving only sideways until April.
Christian Koehl Germany
