SOUTHERN EUROPE REBAR: Price falls to two-year low on weak demand, strong competition

The price for rebar produced and delivered in Southern Europe has fallen by €15-20 ($17-22) per tonne week on week, amid low demand and strong price competition among domestic mills, sources told Fastmarkets on Wednesday July 10.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was €470-480 ($527-538) per tonne on Wednesday, down by €15-20 per tonne from €485-500 per tonne on July 3. The price assessment was last at this level in August 2017. “The Italians did traditionally buy before going on holiday in August, but the demand doesn’t seem to be there at the moment,” one trader told Fastmarkets. “Inventories are low but they have been for a while, and I don’t foresee any...

Published

Viral Shah

July 10, 2019

16:58 GMT

London