Domestic rebar and wire rod prices in Northern Europe have increased €5 ($7) per tonne on the back of recent scrap price hikes, market sources told Metal Bulletin sister title Steel First on Wednesday July 31.
Some market participants even heard that mills were raising their offer prices by €10 per tonne, although no transactions could be confirmed at those levels.
“I have heard of a price rise of €10 per tonne, but I have not heard any definite deals on this level,” a Dutch trader said.
Domestic rebar prices in the region are now €495-500 per tonne delivered for August production, compared with €490-500 per tonne delivered last week.
The mesh-quality wire rod market in the north of Europe also saw little activity, market sources said, due to summer holidays in the region.
Domestic wire rod prices in Northern Europe are now €505-510 per tonne delivered for August production, compared with €500-510 per tonne previously.
Elfi Middelbeek email@example.com Twitter: @EMiddelbeek_SF