French rebar prices are experiencing a slight decline compared to February, decreasing by approximately €10/tonne ($11) on average. However, market consumption remains notably low. Distributors anticipate a further deterioration in sales next week due to the upcoming Easter holidays followed by school holidays in France. Clients are focusing on maintaining minimal stock levels, leading to orders for small quantities only and a pessimistic outlook for April.
Producers in Germany and France are reducing output, with no planned stoppages except for the Easter break. A purchasing group notes decreased buying activity due to reduced consumption levels. French rebar prices are averaging around €610-620/tonne ($665-676) delivered. The construction sector in France is officially in a recession, as indicated by the national construction federation Fédération Française du Bâtiment (FFB).
New construction has declined significantly, with a 23% year-on-year drop over the three months ending January 2024. Specific segments like individual house construction have seen sharper declines, with a 41% decrease between January 2023 and January 2024. Overall private sector residential sales have plummeted by 44.1% during the same period, affecting all building categories including non-residential projects.
Source: Kallanish
