EUROPE REBAR: Trading stalls on lockdown extension in Italy

Prices for steel rebar in the Italian domestic market have softened slightly over the past week amid heavily subdued trading, Fastmarkets heard on Wednesday March 11.

Trading activity came close to naught this week because of the recent extension of the 2019-nCoV coronavirus quarantine area to all of Italy.
“The market is frozen. We are delivering orders placed in recent weeks, but no new orders are coming in,” a large Italian long steel producer said.
There is a slowdown in the construction industry as well, mostly related to transportation issues, sources told Fastmarkets.

“January and February were good months [for construction] but [issues related to the coronavirus measures] and the extended lockdown have started to cause problems in logistics. That has resulted in lower...

Published

Julia Bolotova

March 11, 2020

15:08 GMT

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