Weak consumption from construction sector in Northern Europe drags down rebar prices

A lack of activity led to lower prices in Northern Europe’s rebar market, while wire rod prices held steady in the week to Wednesday November 15, sources told Fastmarkets.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €605-630 ($605-684) per tonne on Wednesday down by €5 per tonne from €610-630 week-on-week.

Demand remained slow in the Northern European rebar market.

An ongoing bearish outlook and weak demand resulted in minimal volumes being reported, Fastmarkets heard.

Despite depressed market conditions, high input costs like gas and energy and production cuts resulted in prices remaining unchanged.

Meanwhile, the corresponding Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, was €600-610 per tonne stable week on week.

Sources reported weak demand, high logistical costs, and an overall bearish outlook.

Published by: India-Inés Levy