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Domestic prices for steel rebar were unchanged in Northern Europe but slightly up in Southern Europe because of an increase in trading in Italy, before the full effects of the Covid-19-related lockdown came into force, sources told Fastmarkets on Wednesday April 1.
All steelmakers in Italy - except for flat steel producers ArcelorMittal Italia, Arvedi and Marcegaglia - were ordered by the country’s government to shut down their production from March 23 until April 3. But the producers were still delivering products until the end of last week.
“Here in Italy, the situation is getting a bit better after the lockdown,” one trader told Fastmarkets. “We are working only on strategic construction sites, and this week [started March 30] is the first week that the mills were all completely closed.”
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was €440-475 ($484-522) per tonne on April 1. (metalbulletin)
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