Prices for rebar produced and delivered in Southern Europe narrowed upward by ?,?15 ($19) per tonne this week amid higher scrap costs and milder weather conditions across the continent, sources told Metal Bulletin.
"All of the mills in Spain are pushing up their prices. Raw materials [costs] are up and I believe that scrap [prices] will bounce again. I think the market will keep rising," one Southern European trader said."Italian scrap prices have begun to pick up [following] international scrap prices. Demand is strong everywhere and spring is coming," one Southern European mill source said.Metal Bulletin's weekly domestic price assessment for rebar in Southern Europe narrowed upward to ?,?525-535 ($650-662) per tonne delivered on Wednesday, compared with ?,?510-525 per tonne delivered one week ago.The price for Northern Europe-origin HMS 1&2 (80:20) exported to Turkey was $368.89 per...