Prices for long steel products are expected to increase across Europe in March with steel mills counting on a rise in consumption as the weather improves, market sources told Metal Bulletin this week.
Cold and wintry weather conditions have restricted construction activity in Europe in recent weeks, thereby pushing down demand for long steel products. But weather and demand have both improved this week, while ferrous scrap prices have continued to increase, thus furthering the view that the coming month will be a positive one for prices of European domestic rebar, beam and mesh-quality wire rod. Mesh-quality wire rod prices in Europe are particularly poised to increase over the next month amid well-booked mills, market participants said. "Stocks are low, there is not much material around and the good season is coming," one Southern European wire rod producer said. Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Southern Europe stayed at ?,?535-560 ($662-693) per tonne delivered on Wednesday March 7. European rebar Better demand and higher volumes of orders...