Rebar prices have increased further over the past two weeks, but demand has started to decline due to the traditional summer lull in Germany. Despite the lower demand, the market is optimistic because there are sufficient projects in the market also for the autumn. Also, producers have managed to sell most of their August production and the limited supply availability has supported prices. German rebar prices have increased by €20/mt for August-September rolling to €890-920/mt ex-works.
"Like previous years, we see low demand now and it gets lower in August. But there are a lot of projects in the market and also new ones are expected to come. That is why we do not expect any real slowdown. Prices are now at a record high, but unless raw material prices see a correction, we do not expect any decrease in rebar prices in Europe," a trader told SteelOrbis.
On the export side, trade has almost come to a standstill because sellers still prefer to sell to their local market, which is more advantageous due to higher prices. In addition, buyers in the target destinations have also begun their holidays and they are not making too many inquiries for German rebar.