Irepas expects long steel market recovery to continue in Q4 despite Covid-19 woes

Sentiment in the global long steel market is improving following a recovery of demand in most regions during the third quarter of 2020 but the Covid-19 pandemic remains a concern, the International Rebar Producers & Exporters Association (Irepas) said last week.

Generally, regional markets across the globe have been performing well so far this quarter, enjoying both higher demand and prices.
Demand for long steel in Europe started to improve in July, with construction activity in most countries recovering from what sources called “the lockdown coma.”
"Demand has returned in Europe. Cut and benders are very busy and so far a relatively low number of projects are on hold," Irepas said.
Longs producers in the Southern Europe took a shorter-than-usual summer break in August, bringing back operations to meet returning demand.
A gradual recovery of key steel-consuming industries alongside a bullish scrap market started to push rebar prices upward in Europe from September; buyers have largely accepted these increases.

Rebar prices in Southern Europe have stabilized after a massive increase...


Julia Bolotova

September 10, 2020

08:53 GMT