European long products
Prices for European rebar remained stable during the week to June 20, stabilizing after a slight decline.
In Northwestern Europe, market participants reported prices in the range of 615 to 635 euros per tonne that could be negotiated, compared with offers of 630 to 640 euros per tonne. Based on the data presented, McCloskey estimates rebar prices as stable and amount to 625 euros per ton for delivery to Northwestern Europe.
Prices in the region appear to be relatively stable, with domestic and Southern European and international imported materials at effective parity. Traders reported that export prices for long products of Spanish origin on FOB terms are 580 euros per ton, and for shipments to Northern Europe - 630 euros per ton per day.
Scrap metal prices have been relatively low over the past three months, with a drop in April and a short-term recovery in May before returning to a price level above 250 euros per tonne in June, delivered to Amsterdam Dock.
Production costs continue to be the main determinant of European valve prices, leading to fragmentation of regional markets due to differences in national energy prices and logistics efficiencies.
Benjamin Stephen
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