EUROPE REBAR: Prices rise on tighter availability, rising delivery costs, impact of coronavirus

Rebar prices in the EU have started to rise on tighter availability, driven by higher transportation costs and lower scrap collection rates, while the novel coronavirus (2019-nCoV) has put the brakes on demand, sources told Fastmarkets on Wednesday, March 18.

Trading activity in Italy was slow this week with some buyers in quarantine and others purchasing only small volumes to cover urgent needs.
“Everything is silent from my point of view,” one trader in Northern Italy said. “It is difficult in these days to keep focused on business.”
 
A second trader had switched to working from home “and delivering only at the construction sites that are open.”
In the meantime, the situation in southern Italy was slightly better than in the north, sources said.

“Some mills have stopped production,” a third trader said. “[But others] keep on delivering steel [and] the price is going higher due to the decreasing stocks and the difficulties in collecting scrap.”
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Published

Julia Bolotova

March 18, 2020

18:41 GMT

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