The price for rebar produced and delivered in Southern Europe slipped on Wednesday January 16, with offers trending downwards as buyers remain confined to short term deals.
Fastmarkets MB's weekly price assessment for domestic rebar in Southern Europe fell to €510-530 ($583-606) per tonne delivered on Wednesday, from €520-540 per tonne previously, though few deals were reported throughout the week.
Offers have edged downwards as the market has remained quiet over the year end and now well into January. Buyers are not interested in anything beyond the near term until the European Commission's new import quotas are introduced next month.
The EC proposed an outline for the new quotas earlier this month, which included a number of measures considered favorable to the European long steel industry. But there is still a lot of uncertainty over the structure of the quotas and business will stay short-term until more clarity is offered.
"We're currently negotiating some nearby volumes, and prices are around €520 [per tonne] now," a Southern European producer said.
Source from Fastmarkets MB |
