Suppliers of long steel products in the European Union have been raising their offer prices for November deals in anticipation of strong demand and high manufacturing costs, Fastmarkets was told on Monday November 5.
But the recent political uncertainty that has enveloped all the world's major markets was keeping customers quiet for now, and content to keep their buying activities confined to the short term.Fastmarkets' weekly price assessments for rebar domestically in both Northern and Southern Europe stayed flat through most of the past month, with business remaining sparse, and buyers and sellers some way apart in their assessments of market prices.The price of rebar in the north fell to ?,?540-560 ($615-638) per tonne delivered on October 31, after staying at ?,?550-570 per tonne from September 26 until October 24. The price for similar material in the south dropped to ?,?510-535 per tonne...