Prices for rebar produced and delivered in Southern Europe have narrowed downward over the past week with Italian and Spanish mills lowering their offers, sources told Metal Bulletin on Wednesday May 30.
Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe was ?,?485-510 ($561-590) per tonne delivered on Wednesday, down from ?,?485-520 per tonne on May 23."Domestically, I think speculative demand is lower because of the regulatory uncertainty [around Section 232 in the United States and the EU's safeguarding investigation into flat steel imports], but I don't think that real demand from fabricators and end-users has really weakened so much," one Southern European producer source said."International scrap prices have gone down, but does that matter when there aren't really any imports coming into Europe right now?" he added.Metal Bulletin's daily index...