The European long steel market has remained weak in early June, with demand failing to recover following recent holidays. Seasonal slowdown and uncertainty surrounding the Carbon Border Adjustment Mechanism (CBAM) continue to weigh on buyer sentiment.
Rebar prices in Germany were reported at €650-660 per tonne delivered, while Belgian prices stood at €625-630 per tonne delivered. Some traders noted ex-works levels around €615-620 per tonne in Benelux, reflecting limited transactional movement.
Medium sections were heard traded at €785 per tonne delivered in Benelux for volumes around 2,000 metric tons, with broader tradable values seen at €785-790 per tonne delivered.
Market participants cite slow spending approvals and resistance to carbon-accounted offers, with premiums of €30-65 per tonne deemed unworkable in the current market.
