European rebar mills have lowered domestic prices in an attempt
to attract sales for April production.
The quiet construction sector in Europe has dampened demand and
slowed buying activity in the local market.
Rebar has been changing hands at €540-555 ($715-728) per
tonne delivered for April production, down from €545-565
, according to European market sources.
Southern European rebar was booked at €540-545 delivered
and deals were concluded in northern Europe at €545-555
"In Germany, rebar is being sold at €545-555 delivered
depending on the mill. Rebar producers are desperately looking
for new deals," said a trader in Germany.
"The market will be quiet this week due to the Easter holidays,
most people are on vacation. I'm hoping that there will be more
action in the second half of April," he said.
Demand for rebar in Europe remains weak and sales have been few
and far between.
Traders and fabricators have been purchasing small parcels of a
few hundred tonnes on a hand-to-mouth basis.