Domestic rebar prices in Europe remained stable during the week to Wednesday, June 10, despite continued upward pressure from Italian factories amid weak demand and low customer appetite.
Market participants said that consumers are still in a wait-and-see attitude, with no significant improvement in demand across Europe due to high prices and slow project development.
"This slowdown in demand is further exacerbated by the adverse weather conditions during this period, which inevitably affect operations," one of the sources associated with the buyers told Fastmarkets.
In Italy, prices available for trade remained in the wide range of 710-770 euros (820-889 dollars) per ton from the manufacturer, depending on the region, while transactions continued to be concluded at these levels, and buyers resisted price increases.
In the north, offers were reported at around 710-730 euros per tonne from the plant, while in the south, factory prices remained at around 750-770 euros per tonne from the plant, with limited volumes trading at the upper end of the range.
Higher indicative offers were announced, and factories tried to raise the minimum price to 720 euros in the north and 760 euros in the south, although the market still did not accept them.
Fastmarkets' weekly price estimate for steel rebar for domestic consumption (exw) in Italy as of June 10 was 710-750 euros per ton, unchanged over the week.
In Spain, market prices for rebar steel bars, domestic, supplied to Spain, remained at 750 euros per ton (base diameter 16 mm), which is in line with Fastmarkets estimates.
In Germany, domestic prices for rebar were also stable, and, as reported, they were at an acceptable trading level in the range of 710-730 euros per tonne delivered.
Fastmarkets' weekly price estimate for rebar steel rods supplied to Northern Europe for the week to June 10 was 710-730 euros per ton, unchanged from the previous week.
The steel rod followed the general trend in the European long products markets and remained unchanged.they have changed over the same period.
Fastmarkets' weekly price estimate for steel wire rod (high-quality mesh) supplied to Northern Europe as of June 10 was 705-720 euros per ton, unchanged from the previous week.
In Southern Europe, volumes sold were reported to be in the range of 690-720 euros per tonne delivered, with transactions reported at the top of the range.
Fastmarkets' weekly estimate of prices for steel wire rod (high-quality mesh) supplied to Southern Europe was 690-720 euros per ton, stable
