Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe
was €410-440 ($450-483) per tonne on May 27, down by €5 per tonne week on week
due to the deals and offers heard in the market.
The price drop in the south was attributable to a decline in Italy's market, while in Spain prices were largely stable, sources said.
Demand for rebar in Italy was still slow in the week to May 27 as the key rebar consuming sector, construction, was still running at reduced rates.
On top of that, the market was reported to be heavily overstocked across the...