You are here: Home > Steel News > Latest Steel News > IREPAS:...

IREPAS: German buyers await further rebar price cuts, outlook generally gloomy in Europe

Monday, 01 October 2012 15:34:23 (GMT+3)   |  
       
Speaking at the SteelOrbis 2012 Fall Conference & 67th IREPAS Meeting taking place in Munich on September 30-October 2, Wilhelm Alff from Stemcor AG said that the European long steel market in general is quite depressed resulting in a significant oversupply problem, given that rebar overcapacity in Spain reaches about 2.5 million metric tons excluding imports, while a similarly pessimistic outlook prevails in Italy. Accordingly, as Mr. Alff indicated, alternative markets are being sought for the surplus output volumes in question.
 
However, the Stemcor official also pointed out that the German economy is more stable and that an increase of about five percent is expected in its rebar consumption this year. Nevertheless, this is mostly because of replacement construction activities, rather than due to new projects, he added.
 
Remarking that the German long steel market witnessed a significant lull in activity levels throughout the second quarter of this year, Mr. Alff said that the market saw very intensive rebar booking activity towards mid-July, with rebar prices reaching all-time low levels due to stiff competition among local producers and also producers from other neighboring EU member countries ahead of the summer holidays. However, at the current time, as Mr. Alff told attendees at the SteelOrbis and IREPAS event, buyers are again sitting on the sidelines waiting for further price cuts.

Similar articles

Turkish longs export prices down $10/mt, Balkans targeted currently

14 Nov | Longs and Billet

Romanian long steel prices still stable despite slower trade

14 Nov | Longs and Billet

Turkish domestic rebar spot prices decrease significantly

14 Nov | Longs and Billet

Turkey’s Icdas announces its longs prices

14 Nov | Longs and Billet

Major steel and raw material futures prices in China – November 14, 2024 

14 Nov | Longs and Billet

Major steel and raw material futures prices in China – November 13, 2024 

13 Nov | Longs and Billet

Local Indian rebar prices improve slightly amid a few large bookings by EPC companies

12 Nov | Longs and Billet

India’s Welspun Corp sees 26% fall in net profit in Q2 FY 2024-25

12 Nov | Steel News

Major steel and raw material futures prices in China – November 12, 2024 

12 Nov | Longs and Billet

MOC: Average steel prices in China up slightly during Oct 28-Nov 3

12 Nov | Steel News