EUROPE REBAR: Prices stabilize on support from higher scrap costs

Steel rebar prices in Europe have remained largely stable over the past week, supported by costlier scrap, with buying remained limited especially in the south, sources told Fastmarkets on Wednesday May 20.

Buying activity was slow in the south of the region because the key rebar-consuming sector, construction, was still running at low rates while various countries eased their way out of their Covid-19-related lockdowns.
Besides, insurance companies were reported to have been reducing credit lines for trading companies, which had its own damping effect on business activity.
Domestic rebar prices in the region were slightly lower over the past seven days, despite rising scrap costs, sources said.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was €415-445 ($454-486) per tonne on May 20, down by €5 per tonne week on week on the deals and offers heard in the market.
The second week after the gradual restart of industry in Italy was quiet, sources said.

“Rebar buying is still very sleepy because construction activity is still low,” one...


Julia Bolotova

May 20, 2020

16:17 GMT