Domestic steel rebar prices in Europe remained stable during the week to Wednesday, June 17, despite attempts by Italian factories to raise prices as weak demand holds back market adoption, Fastmarkets sources said.
Market participants reported uncharacteristically weak demand for this time of year, as well as limited purchases due to high prices, adverse weather conditions, and slow progress on construction projects.
"June and July are usually the months of good sales, but at the moment, demand seems to be more typical for winter," one of the traders told Fastmarkets.
In Italy, market prices ranged from 710 to 770 euros (823.50–893.10 USD) per ton from the manufacturer, depending on the region.
Transactions were still concluded within the established limits, and buyers took a wait-and-see attitude.
In northern Italy, factory prices were 710-730 euros per ton, unchanged week after week. In the south of the country, the prices for sale from the plant were in the range of 750-770 euros per ton, although significant volumes were not sold in the upper part of this range.
Fastmarkets' weekly price estimate for a domestic steel rebar from a factory in Italy on Wednesday was 710-750 euros per ton, unchanged over the week.
Fastmarkets' estimate for a domestic steel rebar bar with delivery to Spain remained at 750 euros per ton, which corresponds to market prices.
In Germany, rebar prices on the domestic market were also stable, and, according to reports, they were at an acceptable trading level in the range of 710-730 euros per tonne delivered, with limited market fluctuations.
Fastmarkets' weekly price estimate for a rebar steel rod, domestic, for delivery to Northern Europe, cost 710-730 euros per ton a week before Wednesday, unchanged from the previous week.
Meanwhile, prices for steel wire rod in Europe remained virtually unchanged during the reporting period.
In Northern Europe, available prices were reported to be in the range of 705-720 euros per tonne delivered, with no significant changes compared to the previous week.
Fastmarkets' weekly price estimate for domestic steel rod (mesh quality) for Northern Europe was 705-720 euros per ton delivered on Wednesday, unchanged week after week.
Fastmarkets' weekly estimate of prices for domestic steel rod (mesh quality) supplied to Southern Europe was 690-720 euros per ton, stable from week to week.
European profiles and beams
Domestic profile prices in Europe have remained stable over the past month.
Fastmarkets estimate of the cost of steel profiles (medium-sized) supplied
