Rebar prices in Spain were set at 590 EUR. There was a decrease of EUR 5 compared to the previous week. Sources noted that the Spanish construction sector is on the verge of a structural problem as the Europe-wide consumption crisis deepens.
Italian rebar prices decreased by EUR 5. Italian rebar prices started the new week trading at EUR 605 with this decrease. Italian long steel producers expect the European Commission's new steel safeguard measures, which came into force on July 1, to have a positive impact on prices. However, the current lack of demand may limit the impact of these measures.
In Germany, prices remained stable at EUR 625. After trading at EUR 635 for a while, the German rebar market decreased by EUR 10 to EUR 625 last week. In the week to July 29, prices were unchanged. At the beginning of June, ArcelorMittal announced its intention to increase the prices of long steel products across Europe. However, prices continue to decline in Northern Europe due to a drop in demand in the construction sector.
The European rebar market is performing poorly under the effects of the consumption crisis. Price differentials between countries and uncertain economic conditions could shape the future direction of the construction industry. Europe's major steelmakers and construction firms will have to develop strategies to adapt to this uncertain environment, the sources emphasized.
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