In the local German rebar market, prices have increased by €50-60/mt over the past three weeks, while demand has remained strong. Despite the upcoming holiday season, demand has not slackened and also scrap prices have increased supporting the new rebar price levels in Germany. Prices are now standing at €520-550/mt ex-works for January-February production. Demand in the country is also expected to be strong at the start of next year and accordingly higher price levels will very likely be seen. "We are seeing really good demand and the fear of a possible lockdown causes a rush in projects. Many companies are trying to finish their projects early and also the numbers of new projects are satisfying. In addition, higher scrap prices constitute another support for the long steel market and in this situation we expect to see higher prices in the new year," a trader told SteelOrbis.
On the export side, demand has remained low due to higher prices. Prices for export materials have also increased, by €50-55/mt to €510-520/mt FOB. These levels are considered to be high in the target export markets like Poland and Austria.