The International Rebar Producers & Exporters Association (Irepas) has delivered a broadly positive short-range outlook for the long steel markets in March, even though prices continue to struggle on lackluster demand, largely because of concerns about protectionist trade measures.
"The global long steel products market is currently in a positive mood amid good demand worldwide," Irepas said in its outlook report on Friday March 8. "Had there not been protectionist actions such as additional tariffs, quotas and safeguard measures, the global business scenario would be much better."That projected demand has yet to have any significant positive effect on long steel prices during the first quarter of 2019, with buying at very low levels and consumers proceeding cautiously in the current protectionist environment.In Europe, Fastmarkets' prices for rebar, wire rod, beams and hollow sections have all fallen from the levels they held at the start of the year.Although some of these prices have seen slight movements upward in recent weeks, those moves were overwhelmingly to the lower end of the assessed price ranges, indicating a price push from producers rather than any real shift in demand.European long-steel buyers...