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 delivered
, according to European market sources.
Southern European rebar was booked at €540-545 delivered and deals were concluded in northern Europe at €545-555 per delivered.
“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.