Domestic prices for long products in Europe remained mostly stable in the week to Wednesday, July 22, amid weak demand and limited customer interest, although domestic prices for rebar in Italy declined. "At the moment, the situation remains very uncertain, and I believe that as a result, prices also remain uncertain," a customer source told Fastmarkets.
Market participants reported limited buying activity across the region, while higher fuel and electricity prices continued to put pressure on market sentiment.
In Italy, as reported, the selling prices from the factory were 690-760 euros (787-867 dollars) per ton.
In northern Italy, prices of 690-710 euros per ton from the plant were announced, and offers and deals at these levels were reported. In the south, offers were announced at a price of 710-730 euros per ton from the factory. The region also reported higher rates and offers at a price of 760 euros per ton from the plant, although these levels were not supported by deals.
Fastmarkets' weekly price estimate for steel rebar for domestic consumption (exw) in Italy on Wednesday, July 22, decreased to 690-730 euros per ton from 690-750 euros per ton a week earlier.
Fastmarkets' weekly price estimate for rebar steel bars, domestic, supplied from Spain, remained unchanged at 750 euros per ton.
Meanwhile, domestic rebar prices in Germany remained stable at 710-730 euros per tonne, which was reflected in Fastmarkets' weekly price assessment for rebar steel rods supplied to Northern Europe.
During the week, estimates of wire rod prices in Europe showed mixed dynamics.
In Southern Europe, prices for wire rod (mesh quality) are reported to be 660-680 euros per tonne delivered.
Fastmarkets' weekly price estimate for steel wire rod (high-quality mesh) supplied to Southern Europe decreased to 660-680 euros per ton on July 22 from 670-720 euros per ton in the previous week.
The weekly price in Fastmarkets for steel wire rod (mesh quality), domestic, supplied to Northern Europe, did not change in July and amounted to 705-715 euros per ton22.
Author: Niya Radenkova
Fastmarkets.com
