The future of the global long steel market remains uncertain because of both the impact of the covid-19 pandemic and rising protectionism, with no recovery expected in the third quarter of this year, the International Rebar Producers & Exporters Association (Irepas) said last week.
A gradual slowdown in the construction industry in Europe due to Covid-19 is restraining steel long consumption, with a number of infrastructure projects having been either cancelled or delayed because of lockdown measures, Fastmarkets understands.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?400-430 ($446-480) per tonne on June 3, down by ?,?10 per tonne week on week due...