Domestic long steel prices in EU markets are expected to remain around current high levels over the August holiday period, although mills could push through further price rises in September, market sources told Metal Bulletin this week.
"Customers are starting to go on holiday. We haven't heard new inquiries but we expect the [rebar] price to be maintained, and then perhaps to rise in September," a distributor in the region on Thursday August 2.Prices for commodity long steel products such as rebar and mesh-quality wire rod could rise by as much as ?,?20-25 per tonne in September, partially supported by higher ferrous scrap costs, with mills returning to normal production and higher scrap demand and consumption being seen after the summer maintenance period, according to one European producer source.Metal Bulletin's...