Rebar prices are falling in most European countries due to insufficient demand.
Rebar prices in Europe showed negative dynamics in the week to Wednesday, July 11, amid weak demand, while wire rod prices remained virtually unchanged.
Fastmarkets' estimate for rebar steel bars, domestic, with delivery to Italy, was 520-560 euros ($601-647) per ton on Wednesday, up from 550-580 euros per ton on July 4.
In the north of the country, ingots with a thickness of 8-16 mm were offered in the range of 520-560 euros per ton in stock, according to various sources, including mills, traders and companies engaged in cutting and bending workpieces.
A market source said that some plants may even agree to the level of 510 euros per ton in case of large orders. But the purchasing activity was mostly limited to strictly necessary volumes.
A source at cut and bend noted that prices in Italy are unlikely to continue to decline amid rising prices in the scrap metal segment and expectations of higher energy prices in the summer.
With reduced supply in the domestic market, Italian materials were also available at discounted prices to customers in Northern Europe.
This week, an Austrian source reported that Italian fittings were offered at a price of 615 euros per ton, compared with 630 euros per ton a week ago.
After the publication of the assessment, it was reported that the level of 605 euros per ton was reached during the negotiations.
German fittings were supplied to Austria at a price of 630 euros per ton, which is 10 euros lower compared to the previous week.
In Denmark, a similar material was available at a price of 630 euros per ton.650 per delivered ton.
In the Netherlands, reasonable prices for rebar decreased to 635 euros per ton from 670 euros per ton, which were reported in previous weeks.
Fastmarkets' price estimate for rebar steel rods supplied to the domestic market in Northern Europe was 615-650 euros per ton on Wednesday, compared with 630-670 euros per ton on June 4.
The only region where rebar prices increased slightly was Spain. The supply in the country has grown to 615-620 euros per tonne delivered, which is reflected in Fastmarkets' weekly price assessment for rebar steel rods, domestic, with delivery to Spain.
The estimate rose to 615-620 euros per tonne delivered on Wednesday, from 600 euros per tonne delivered on June 4.
Vlada Novokreschenova
Fastmarkets.com