European long steel markets saw subdued activity in the week to Nov. 5 as market participants voiced concerns over the costs associated with upcoming CBAM legislation.

A distributor source noted that prices remained stable and emphasized the challenges of operating in the long steel market this year.

“This year has been one to forget, and with CBAM coming into effect from January, we’re not sure what to expect,” he said.

“We’re anxiously waiting for its effects, but we do not have any estimations.”

Market participants continue to battle with weak end-user demand in the construction sector, which has prevented mills from raising prices.

Tradable values for rebar in Northwest Europe were reported at Eur595/mt delivered, and at Eur575-585/mt on an exworks basis.

Platts assessed domestic rebar in Northwest Europe at Eur580/mt ex-works, down Eur5 week over week.

Tradable values for medium sections in Europe were reported at Eur730-740/mt delivered Benelux.

Platts assessed medium sections in Europe at Eur730/mt delivered, stable week over week.

Platts assessed carbon-accounted steel premiums for rebar and medium sections at Eur30/mt, both unchanged week over week.