Prices for European fittings have fallen amid rising prices for energy and raw materials
Prices for steel rebar in Europe diverged during the week on Wednesday, June 18, with the cost direction varying depending on the region, Fastmarkets sources said.
In Italy, 8-16 mm B450C rebar offers were mostly unchanged at €520-560 ($598-644) per ton of ex-work, or in the north of the country taking an aggressive stance and lowering the offer price to €510-515 per ton on a free-of-charge basis, the sources said.
Other enterprises in the northern part of the country offered fittings for €520-530 per ton of Ex-work.
In Southern Italy, meanwhile, rebar was available in the amount of 540-560 per ton, according to sources.
Estimate Price
Fastmarkets’ for steel reinforcing bars (rebar), domestic, on EXW terms in Italy increased to €510-560 ($601-647) per tonne on Wednesday, compared with €550-580 per tonne on July 4.
Suppliers tried to support their bid for Italian rebar and were not ready to provide discounts – both on the domestic market or offers to northern European countries due to increased scrap and energy costs.
One buyer from Northern Europe, who managed to book Italian material last week at €605 per tonne delivered, said he was now "struggling to get the same level" and estimated that a potential price deal could push up to $615 per tonne delivered this week.
Rebar from suppliers in Northern Europe was available at a rate of 630-640 per ton delivered per week through June 18, the sources said, with one citing a slight pick-up in business activity this week because customers were restocking ahead of the summer holidays.
"You need to worry about going on vacation for free," the source said.
Fastmarkets’ price estimate for steel reinforcing bars (rebar), domestic, delivered to Northern Europe is €615-640 per ton on June 18, tapering off from €615-650 per ton on June 11.
In Spain, Fastmarkets’ price estimate for domestic steel reinforcing bars (rebars) delivered in Spain has been stable at €615-620 per ton delivered – a level considered acceptable by my most customers.
Vlada Novokrestenov
Fastmarkets.com