Mills all over Europe attempted another round of price increases, but the new prices were not widely accepted due to the slowdown of activity amid the approach of Easter holidays.
Some buyers, however, expected no negative price corrections in the near. future and preferred to book what is possible now, to minimize restocking at higher prices as much as possible.
Rebar offers in Northern Europe from both regional suppliers as well as from Southern Europe, varied within the range of €670-690 ($776-800) per tonne delivered, while workable prices were estimated at €655-665 per tonne delivered, which was reflected in Fastmarkets’ index.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, rose to €655-665 per tonne on April 1, from €640-655 per tonne on March 25.
The corresponding weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, rose to €670-680 per tonne on April 1 from €650-670 per tonne on March 25.
Market sources reported that, in the rebar sector, acceptance of higher prices was better than in the wire rod sector.
In this connection, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, rose to €715-725 per tonne on April 1, from €695-715 per tonne on March 25.
Mills attempted to raise wire rod offer prices to €710 per tonne delivered but this gained no traction among customers. Most recent sales were reported at €680 per tonne delivered.
In Italy, deal levels varied within the wide range of €650-670 per tonne delivered in the week, but some offers were already being heard at €680-690 per tonne delivered.
As a result, Fastmarkets’ price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe, remained at €650-680 per tonne delivered on April 1, unchanged week on week.
