The price of steel rebar in the Northern European domestic market moved down slightly this week through a combination of low ferrous scrap costs, weak demand and plentiful supply, sources told Fastmarkets on Wednesday September 25.
Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?470-490 ($517-539) per tonne on Wednesday, widening downward by ?,?5 per tonne.The weakening price trend in the scrap markets has been a feature for much of 2019 but has accelerated since the beginning of August, applying pressure to rebar prices throughout September, given the time lag between the two markets.Falling scrap prices have also contributed to poor demand, sources said, because buyers have expected ever-lower rebar prices and so held back from making large...