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European mills increase rebar prices by €15-20/t - 8 March 2012

Northwest European rebar mills have announced new increases of €20/tonne since the beginning of this week, pushing offers to €590/t DDP for March delivery on costlier scrap, Steel Business Briefing learns from market participants. However, few transactions have been concluded at the new asking prices.

According to buyers and producers in Germany and Benelux, demand has improved since last week, but the market remains fairly quiet due to liquidity problems across Europe.

“For the time being, the rebar market in Germany is still quiet, but mills have increased their prices because in Germany scrap has risen by €15/t in the last couple of days,” a German-based trader says. “The heavy snow that we had in the last couple of weeks did not help the construction sector… we expect a full recovery in demand in the coming weeks although liquidity is a problem,” he adds.

“I bought a small quantity at the new asking prices. The German market and Benelux market are getting better but even our buyers are not buying too much because they still have liquidity problems,” a Netherlands-based service centre says.

In France mills have pushed up asking prices to €580-590/t delivered, while Spanish and Italian mills that are active in the region have increased their prices as well.

“Our export prices are in line with the domestic mills. In France we are selling around €580/t, while into the Benelux area around €590/t,” a Spanish mill says. “In Luxembourg we have started to sell more since ArcelorMittal closed its plant,” he adds.

 

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