On the southern European side, prices have moved on a stable trend in Spain and Portugal. Prices are expected to rise in both countries, though demand is not expected to show a corresponding increase. In Italy, the rising trend observed in previous weeks continued last week also. Base prices in this market stood at the level of €150/mt ex-works.
As for the eastern European markets, price increases were registered last week. Bulgarian and Romanian mills have upped their prices due to the acceleration seen in import rebar prices. Little activity has been observed in terms of demand in these markets.
In general, the decreasing course observed in the European rebar markets last month has switched to an uptrend over the past two weeks. However, it is not possible to mention a similar uptick with regard to demand. The construction sector, which was expected to show an improvement with the commencement of the spring season, is unlikely to gain relief from the effects of the global economical crisis this year; however, it should be considered that the sector will fare somewhat better as compared to its situation during the winter season.