Due to weak scrap prices and high market inventories, European longs steel prices fell this week, especially the rebar market continued to be affected by delays in the importation of Algeria.

In France, rebar prices fell 15-20 euros/tonne from last month, with a base price of € 165 / t. In southern France, buyers can even get less than 160 euros/ton of resources. Buyers believe that the main problem or Algeria’s import license has been delayed, low-cost resources in southern Europe continue to flow to the Nordic market. In recent months, Italy continued to lower the domestic rebar factory base price, a decline of 100 euros/ton, Benelux rebar factory base price of 180 euros/ton, down 10 euros/ton last week. At present, the Northwest European steel mills ex-factory price of 427-437 euros/ton, compared with the previous decline of 3 euros/ton.

In addition, the past week, profiles and small bar prices are also declining, steel prices fell 25% over the end of February. Heard a large steel mill of type 1 delivery price of 490 euros/ton, small bar delivery base price of 45-50 euros/ton.

For the market outlook, it is expected to come with the summer, the next two months the market demand will remain weak, long steel prices trend to steadily weak.

Source: China Business Network