NORTHERN EUROPE REBAR: Buyers retreat amid soaring prices

Steel rebar prices in the north of Europe continued to increase in the week to Wednesday May 19, aided by limited imports and increased scrap costs, while buying activity started to slow.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?740-780 ($903-952) per tonne on May 19, up by ?,?20-40 per tonne week on week from ?,?720-740 per tonne.
The assessment reflected deals, offers and achievable prices heard in the market over the past week, sources said.
The assessment has risen by 14.29% in two weeks since May 5 when the price was at ?,?650-680 per tonne.
Sources in the German market reported offers at ?,?760-780 per tonne delivered with some deals heard done at the upper end this week.

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