According to SteelRadar data, the price of rebar in Germany, which had fallen by EUR 13 to EUR 625 on the 22nd of April, has been trading at the same price for a long time now. In the week to 13 May, the German rebar market remained stable, while the situation in another northern European country, Poland, was similar. After falling by EUR 10 to EUR 615 on 29th April, Polish rebar prices were stable in the week to 13th May. Sources reported that rebar prices have so far failed to recover, underlining the calm in the EU market.
The stagnation in the Northern European rebar market is also being felt in Southern Europe.
According to SteelRadar data, Italian rebar market which closed April at EUR570, gained EUR20 by the end of April and reached EUR590 by the end of the month. In the week of 13 May, the rebar market in Spain was more volatile than in Italy, where prices continued to trade at stable levels. According to SteelRadar data, rebar prices, which were unchanged at EUR583 on 22 April, rose to EUR605 in the week to 6 May and traded at the same price in the week to 13 May. Rebar prices in Spain, which have been more volatile than in Italy, are expected to recover in the coming weeks. Sources expect that the expected scrap increases in scrap in Europe will cause some movement in the steel market, especially for rebar.
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