EUROPE REBAR: Thin buying pushes prices downward

Domestic steel rebar prices in Europe fell further on thin trading and pressure from buyers, sources told Fastmarkets on Wednesday June 3.

Rebar buyers in the region continued to push for lower prices, citing persistent slow demand that restrained trade volumes, and also payment issues arising from the Covid-19 pandemic.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was €400-430 ($446-480) per tonne on June 3, down by €10 per tonne week on week due to the deals and offers heard in the market.
The Italian rebar market re-opened on Wednesday after a long weekend with public holidays.
Sources noted a minor increase in trading activity but this was largely from attempts to destock.

“Almost all steel producers and traders were closed on Monday and Tuesday...


Julia Bolotova

June 03, 2020

15:45 GMT