EU LONG STEEL OUTLOOK: Buyers hold firm against higher producer offers

European long-steel buyers resisted higher offers throughout February while demand levels continue to dawdle behind higher raw material prices that pushed some producers to raise offers across the long steel slate.

Prices in March will depend on any shift in the balance of power between the high producer offers and the sluggish end-user demand. Producers were unable to affect any of Fastmarkets’ European long-steel price assessments throughout February, except for the slight narrowing upward of domestic rebar prices in Northern Europe. The domestic rebar price in North Europe started March at €535-550 ($608-625) per tonne delivered, a marginal change from €530-550 per tonne at the start of February. In Southern Europe, domestic rebar prices stuck fast at €510-520 per tonne delivered through February, while wire rod prices in both Northern Europe and Southern Europe remained at €530-550 per...

Published

Jethro Wookey

March 04, 2019

16:50 GMT

London