SOUTH EUROPE REBAR: Export prices soften on pessimism over Algeria

Export prices for Southern European rebar moved down by €5-10 per tonne this week, amid gloom about the likely demand in the key Algerian import market during the first quarter of next year, sources told Metal Bulletin on Wednesday November 29.

Metal Bulletin’s weekly export price assessment for Southern European rebar fell to €475-485 ($564-576) per tonne fob main ports on Wednesday, compared with €480-495 per tonne fob last week. Offer prices from Italy were heard at €470-475 per tonne fob, with Spanish offers at €480-485 per tonne fob. Prices weakened because material booked now will only arrive in Algeria in January, both because of new regulations and the fact that many Southern European mills are fully booked over the coming weeks, sources said. This effectively excludes Algerian customers from being able to import material until January, by which time the majority of buyers in the North African country will no longer possess...

Published

Lee Allen

November 29, 2017

19:28 GMT

London