“The Spanish market is weak in price terms but consumption is improving,” one trader said. “European mills have been more aggressive [in terms of price] so there has not been much import activity. Prices are on the low side, although I would not expect them to go down any further.”
Fastmarkets’ weekly price assessment for domestic rebar in Southern Europe fell to €485-515 ($545-579) per tonne delivered on Wednesday April 3, from €515-520 per tonne delivered on March 27.
“We are mainly fighting to keep the current price level up, amid depressed demand, because April is a short [working] month with the Easter holidays [on Friday and Monday April 19 and 22],” one Southern European producer source said.
“If you mess up your pricing before...