EUROPE REBAR: Buying activity revives in south; deteriorating demand in Germany pulls northern price down

The price range for steel rebar in Southern Europe narrowed upward on firm offers from Italian mills, while in the assessment in the north widened down on slower demand in Germany and weaker feedstock prices, sources told Fastmarkets on Wednesday June 24.

Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was €410-425 ($463-480) per tonne on June 24, compared with €405-430 a week earlier.
The assessment includes deals and offers heard in the market.
Italian producers managed to increase domestic prices, while in Spain rebar was slightly cheaper this week due to pressure from buyers.
Italy
Italian steelmakers managed to increase rebar prices on improving demand, sources said.
"Steel producers were asking for €20 per tonne more and the market is paying half of this increase, €10 per tonne," one trader said.

New offers from Italian mills were heard at €385-395 per tonne ex-works, equivalent to about €415-425 per tonne delivered, compared with €360-375 per tonne in the first half...

Published

Julia Bolotova

June 24, 2020

15:40 GMT

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