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Rebar prices steady in Germany, weaker in France - 11 June 2012

Rebar prices across northwestern Europe displayed varying trends last week. German and Benelux prices were stable at the previous week’s levels, while French prices declined, market participants told Platts Steel Business Briefing.

In Germany mills were holding prices at €520-530/t effective delivered, but came under pressure from falling scrap. In eastern Germany mills are feeling competition from Polish rebar that is still selling at €510/t effective delivered. In southern Germany rebar transactions were in the low part of the range: Italian mills’ rebar went down by €10/t and they can put pressure on the local market. In Germany stocks are reported to be at one month.

“Producers are not moving from their old prices, but bids are lower. Scrap prices in Germany went down by €10-15/t. If you need materials straight away you pay still €530/t, otherwise you can negotiate, but I haven’t heard any deals from German mills concluded under €520/t”, a trader said.

In Benelux buyers are also reported to be in waiting mood; here the scrap prices declined as well and bids are lower than official prices. According to producers, rebar is at €275-280/t base. “I sold a small quantity at €280 in Netherlands this week. Here large buyers are purchasing small quantities because they have liquidity problems”, a stockholder said.

In France prices went down by €10/t on scrap’s decline, weak demand and cheaper imports from Spain into the south of France. Riva officially is still at the base price of €270/t, making 10mm rebar’s effective price €530/t, and €520/t for 12mm. But a distributor confirmed buying at a base price of €260/t, effective prices for 12mm at €510/t. Stocks are reported to be at 1.5 months. In Bordeaux (southwestern France) Spanish mills are said to have sold rebar at a very aggressive price of €500-505/t delivered.

 

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