Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe
, was €475-480 ($556-562) per tonne on Wednesday, up from €455-470 per tonne last week.
Sources pointed that buying activity in most Northern countries was good. Producers managed to achieve higher rebar prices in deals, supported by bullish scrap prices and good buying activity, sources said.
Demand for rebar from the key end-sector, construction, “was back to normal levels,” sources said, so no upturn in demand was expected.
“We have very good order books,” one source said. “Construction is going on at normal levels, [or] even higher...