EUROPE REBAR: Prices unchanged on divergent scrap costs in Europe, Turkey

Domestic steel rebar prices in Europe were largely unchanged this week, with participants saying on Wednesday February 19 that the market was caught between lower monthly European scrap costs but rising daily Turkish scrap prices.

The differing scrap price trajectories had led to confusion over where rebar prices would move, sources said. The monthly European scrap prices represent the price of mills’ feedstock material, although these tend to follow the daily Turkish scrap prices because of the size and influence of the Turkish market.

Fastmarkets’ assessment of the price for steel scrap No E3 (old thick steel scrap),...

Published

Ross Yeo

February 19, 2020

17:40 GMT

London