Local rebar prices in Germany have remained stable over the week at €470-490/mt ex-works. Demand is still moderate amid the sufficient number of projects in the country, but the pressure from buyers has prevented the mills from increasing their prices. However, some sources expect an uptrend despite the upcoming holiday season, citing rising scrap prices and the positive global market situation as the key reasons. In addition, there is no oversupply in the market at the moment and stocks are not high. "We have good demand and enough supply, but material availability has never been easy. Buyers have faced problems time to time in terms of supply. That is the main reason behind the lower market stocks in Germany," a trader told SteelOrbis. "Sales are good and scrap prices continue to increase. We have to reflect increases in raw materials in our prices. Normally, before the holiday season we see a silent market, but this year is different. Amid fear of the second lockdown, buyers are trying to be safe in terms of stocks. In this situation, €500/mt for rebar is very likely in the short term," another trader said.
On the export side, demand is low and export offers are limited. Because of the good demand in the local market, export prices have remained high. Limited offers have been heard in the market this week and offers are at €470-475/mt CPT to Austria and Poland from Germany for December deliveries, up €10/mt since last week, as SteelOrbis has learned