NORTHERN EUROPE REBAR: Prices hold despite slow buying; recent scrap decline clouds outlook

Domestic steel rebar prices in Northern Europe were broadly stable in the week to Wednesday January 27 despite slower buying activity, while market participants are cautious of the future trend and expect a downward correction on weaker scrap, sources told Fastmarkets.

Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was at ?,?650-670 ($789-814) per tonne on Wednesday, the same as it was seven days earlier.
Some mills were offering rebar in the range of ?,?680-700 per tonne delivered, however, no confirmed bookings were heard at those levels, sources said.

"The tradable level in Germany is about ?,?650 per tonne delivered. I heard some mills are still insisting...

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