Recently, the rebar prices have soared in South European market despite of poor demand.
It’s known that the rebar base prices in Italy are at around €300~€310/ton and the actual deal prices are at €295/ton. However, Italy’s rebar export prices have soared to €510/ton FOB.
Besides, Spain’s demand for rebar has presented sluggish as well and the rebar prices are at €285~€290/ton. However, the country’s rebar export quotes have remained firm at €510/ton FOB.
Market participants pointed out that the Spain’s export quotes of rebar to Portugal have hiked to €565/ton; while, traders indicated that the prices are unfavorable.
Also, Greece’s steel mills have increased the prices of medium size rebar to €535~€565/ton, up by €5/ton from a week earlier.
Industry sources indicated that as Turkish and Italian steel mills have increased the rebar prices, it’s predicted that the rebar prices would rise further in South European market in the near future.
( Source: www.yieh.com )