Business activity in the European long steel market has generally been slow due to the approaching holiday period. While some suppliers have increased their prices, some prefer to refrain from giving offers for now, expecting a certain improvement in the first half of January.
Local rebar prices are at €460-465/mt CPT in northern Europe and at €440-445/mt CPT in southern Europe, both up by around €10-15/mt week on week. Most Italian mills, according to market sources, are not giving any local prices as they want to see the scrap trend after the holidays.
In the export segment, rebar offers from Italy are scarce and generally exceed €420/mt FOB. Spanish mills are in the market with €425-430/mt FOB for February shipments, up by €15-20/mt as compared to mid-month. In particular, rebar from Spain has been on offer to the United Kingdom at €465-470/mt CFR, SteelOrbis has learned.
The import segment in the EU has been largely inactive lately. Ukraine’s rebar quota is about to be exhausted with “around 20,000 mt remaining on paper, but being already sold,” a source said. Russian mills have 17,700 mt left from their quota.
In the local European wire rod market, sellers in western Europe are offering €460-465/mt CPT for mesh grade wire rod. In Italy, as reported previously, drawing quality material is available at €455-460/mt CPT, which makes the price for mesh at around €440-450/mt CPT, SteelOrbis estimates. The local demand in Italy is said to be moderate with some price increase expected. In the export segment, Spain’s export prices for wire rod have increased by €15-20/mt to €440-450/mt FOB for shipments in February, sources say.