Due to scrap prices down in July demand weak in summer, the rebar price in German down by euro 20/ton to euro 430-440/ton compare with the price in early July. Although some steel mills under maintenance, market supply has decreased, in view of the price decrease by euro15-20/ton, the market stock is still at a high level, so the price downward still under big pressure.

In addition, the German economic situation is good. Many EU member states have sold steel to Germany to reduce their stock pressure. It is reported that Poland resources offer low to euro420 / ton.

Impacted by Rebar prices down of Germany, the European steel ex-works prices fell by 9 euros / mt to euro 415 / ton.

                                                                    XINSTEEL NEWS