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Domestic prices for heavy steel place in Europe have been fairly stable over the week, but some mills have started to increase offers due to higher production costs, sources told Fastmarkets on Wednesday June 17.

Flat steel product shipments from EU steel service centers fell by 18.5% in January-April from the same 2019 period.

United Arab Emirates producer Conares Steel has increased its rebar price to 1,774 dirhams ($483) per tonne ex-works, from the previous month’s level of 1,690 dirhams per tonne ex-works.

Activity in the European HRC market has remained slow this week due to ample stocks among distributors and persistently weak demand from end consumers.

About 130 employees are being recalled for the startup, Panzeri said.