The price of rebar produced and delivered in Northern Europe fell by ?,?10-20 per tonne week on week after domestic mills lowered offers amid weak demand and import competition, market participants told Fastmarkets on Wednesday May 29.
Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?505-535 ($565-598) per tonne delivered on May 29, down from ?,?525-545 per tonne on May 22. "There is weak demand and producers are offering material at low prices as they need orders," one distributor told Fastmarkets, adding that "a lot of [rolling] capacity" is available at Northern European mills. "In addition, lower competing offers from Spain and Portugal are...