Prices for rebar produced and delivered in Southern Europe widened upwards by ?,?10 per tonne over the past week, sources told Metal Bulletin on Wednesday June 27.
Metal Bulletin's weekly price assessment for domestic rebar in southern Europe was ?,?475-500 ($555-584) per tonne delivered on Wednesday, up from ?,?475-490 per tonne one week earlier. The assessment includes offers and deals heard in Italy and Spain.Offers up to ?,?510 per tonne delivered were also heard in Spain, market participants said."The [domestic ferrous] scrap price is up and there is positive sentiment, while the expected preliminary decision on the EU safeguard case also helps," one Southern European producer source said."Mills are looking to recover some of the price drop that happened over June," the source added.This fall was reflected in Metal Bulletin's price assessment for domestic rebar in Southern Europe, which weakened from ?,?485-510 per tonne delivered on May 30. "Mills are trying to raise prices...