Rebar prices ended February with a slight decline in France and Germany due to low consumption and weak annual turnover, while rebar prices rose in Spain.
According to SteelRadar, rebar prices in Germany traded at €658 during February, but by the end of the month, prices were slightly lower at €653. The continued decline in orders for long products was attributed to the stagnation of the construction sector and the weak growth of the economy, which may lead to production cuts to balance supply and demand. Rebar prices in France were reportedly hovering between €620-630, with rumors suggesting that the French market sector is not willing to restock. Rebar processing costs in French factories are reportedly high and cuts are expected if the situation remains unchanged.
The situation was similar in Spain, which is close to France, where rebar prices traded at €633 at the beginning of February, declined throughout the month and remained around €600, before rebounding slightly to €605 at the end of the month.
As production disruption is foreseen across Europe, spot prices and demand remain low and prices are expected to maintain their level with a slight decline in March.
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