Buyers confirm that values have increased to €20/tonne ($21) and may continue to do so. However, the contracts applied continue to be for small volumes, such as one or two truckloads. Consumption from the construction sector remains limited and buyers are refusing to commit to purchases.
The downward market trend for all flat and long products is set to continue, a major buyer said, adding that there is no end in sight. Buyers are facing worsening margins and a lack of visibility due to the weakening German economy.
Conditions in the rebar market are reportedly difficult, with wire mesh, profiles and wire rod also adversely affected. One source predicts that 2024 will not be a good year for the construction and steel industries. As rebar prices are high in France, some sources said that they prefer to buy cheaper Italian and Spanish materials.
Earlier this month, some steelmakers in France, Spain, Germany and Italy raised rebar prices by an average of €50/t compared to early September as prices were close to cost levels. In Italy, producers again halted sales.
According to sources, rebar prices in France are hovering around €610-630/t on average.
Comments
No comment yet.