The price of steel rebar in the Southern European domestic market moved slightly down this week under the influence of ever-lower scrap costs, high supply levels and low export opportunities, sources told Fastmarkets on Wednesday September 25.
Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?455-465 ($501-512) per tonne on Wednesday, down by ?,?5 per tonne week on week. The weakening price trend in the ferrous scrap markets has been a feature for much of 2019 but has accelerated since the beginning of August and has been applying pressure to rebar prices throughout September, given the time lag between the two markets. Falling scrap prices have also contributed...