Rebar prices in Germany will remain stable until the end of the year

Prices dropped down to around €320/ton ($349) in Germany by mid-October at the basis level, before settling at €585/t or lower for delivery later on.

Distributors started buying to restock and producers were encouraged to raise their offers. Their forecast target was €370/t base - or €635/t delivered. Wire mesh was sold for €450/t, the source said, adding that he paid €350/t for a small volume of rebar refills at short notice.

In the next wave of restocking in early 2024, prices are likely to fall again, possibly below the levels seen in October. Mills are expected to face a major lack of demand next year, with orders for construction projects, especially residential buildings, falling this year. It is emphasized that new orders will be placed at the expected price.

An executive at a major distribution group confirmed this prediction, saying that demand is very weak in general and that the market is currently as stable as it was last summer.