The price for rebar produced and delivered in Southern Europe widened downward by ?,?5 ($6) per tonne on Wednesday May 29 amid continuing weak demand, market participants told Fastmarkets.
Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?495-510 ($553-570) per tonne delivered on Wednesday, down slightly from ?,?500-510 per tonne delivered on May 22."Domestically, the price has fallen a little bit below ?,?500 per tonne [delivered]. Prices are under pressure and buyers prefer to buy [small volumes] each day. They're hoping that prices will drop, and talk to lots of mills to get the best price," a Southern European producer source said."The mills seem to prefer [booking] volumes right now, so they're not fighting...