German rebar prices stable, demand starts to show signs of recovery

Wednesday, 17 March 2021 15:10:35 (GMT+3)   |   Istanbul
       

The local German rebar market has started to see some recovery in demand, but buyers are still cautious because of the prolongation of Covid-19 measures and their effects on construction activities. In addition, the scrap price trend has not been solid these days and may also impact the rebar trade. However, local rebar prices have remained stable for now, while buyers have been meeting their urgent needs for the time being.

On the other hand, German producers are optimistic and they think demand will recover soon due to seasonal factors and the anticipated relaxation of Covid-19 measures. In addition, market stocks are low and buyers will need to replenish them soon. Prices have not changed in the last two weeks and are still at €630-660/mt ex-works for April production.

"Producers are not in a hurry to revise their prices because they believe they will see better demand soon, but buyers are very cautious and they want to postpone their restocking activities for as long as possible. We believe demand will increase sooner or later, but at this moment we think everybody should still be careful," a trader told SteelOrbis.

In the export market, demand has also started to recover and price levels from Germany have been accepted in several destinations. Some sales to Austria and Poland have been heard in the market at €620-625/mt FOB and export offer prices have been stable at €620-630/mt FOB within the past two weeks. However,foreign buyers are also very careful and they are buying only to meet their urgent needs, which causes demand to be limited.


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