EUROPE REBAR: Prices sink deeper in Italy, stable in the north

Domestic prices for steel rebar in the south of Europe declined week over week on slow buying and oversupply, while in the north of the region prices were largely unchanged, sources told Fastmarkets on Wednesday May 27.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?410-440 ($450-483) per tonne on May 27, down by ?,?5 per tonne week on week due to the deals and offers heard in the market.
The price drop in the south was attributable to a decline in Italy's market, while in Spain prices were largely stable, sources said.
Italy
Demand for rebar in Italy was still slow in the week to May 27 as the key rebar consuming sector, construction, was still running at reduced rates.

On top of that, the market was reported to be heavily overstocked across the...

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