Closures, typical at this time of year, will last from August to early-mid September.
Fastmarkets price assessment for steel reinforcing bar (rebar) domestic, exw Italy was €660-675 ($724-740) per tonne on Wednesday, stable week on week.
Trading in Italy was expected to remain subdued till mills reopen in September, sources said.
As a result, prices were expected to remain flat across long steel markets in Southern Europe, and demand expected to remain subdued.
“The situation is unchanged from last week as mills are absent from the market because of summer holidays,” a producer source said.
“Demand is low as everyone is away for summer holidays,” a trader source said.
“The market is flat. Some of the producers have already stopped the production and the others don’t put pressure on sales,” a buyer source said.
Meanwhile, prices in the Spanish rebar market remained stable.
Fastmarkets’ price assessment for steel reinforcing bar (rebar) domestic, delivered Spain was €640-650 per tonne, unchanged week on week.
Demand and trading remained slow in the Spanish market as a result of seasonal closures.
Southern European wire rod
Fastmarkets’ price assessment for steel wire rod (mesh quality) domestic, delivered Southern Europe was €580-600 per tonne on Wednesday, stable week on week.
The Southern European wire rod market remained flat.
“Mills targeted price increases at the beginning of July, but these have not really had any effect or been accepted by the market,” a buyer source said.
“In September, mills may increase prices, but we will wait and see,” he added.
