The European longs market has once again been characterized by a general weakness this week, with prices largely stable or slightly lower. Sentiment remains sluggish, and "it seems that everyone is waiting for something", one source said.
More precisely, local rebar prices in the Italian market have been reported at €230-240/mt ex-works base (€495-505/mt ex-works including regular extras), down by about €10/mt compared to last week. This trend shows a slight but consistent downward movement, contrary to the expectations of producers who hoped they could count on a drop in scrap prices to make up for lower rebar prices.
This hope, however, proved to be unattainable in the face of a persistent lack of demand, which is also weighing on the local wire rod market in Italy. Local wire rod prices have been reported at €610-625/mt delivered for drawing quality and at €595-610/mt delivered for mesh quality. These prices mark a drop by €10/mt compared to the previous prices recorded by SteelOrbis.
As for the German and eastern European markets, prices for drawing quality wire rod have been reported at €630-650/mt delivered and €620-635/mt delivered, respectively, while prices for mesh grade wire rod have been reported at €595-620/mt delivered and €595-615/mt delivered, respectively. As already reported by SteelOrbis, for the influence that the event will have on the above markets, it is worth mentioning the closure of the ArcelorMittal Zenica plant in Bosnia and Herzegovina.
As for the export market, no changes in longs prices from Greece or Spain have been reported. Their rebar export prices have remained at €575/mt FOB and €550-555/mt FOB, respectively, unchanged from the previous week. Wire rod prices from Greece have showed no change week on week, standing at €570/mt FOB.
Finally, rebar imports from Turkey have been reported in the range of €475-480/mt CFR for shipments between the end of July and the beginning of August, down by €5/mt week on week, while wire rod offers have been reported at €480-485/mt CFR, down by €5-10/mt compared to last week. Price changes in euros are equal to the price changes in US dollars. Lastly, rebar and wire rod export prices from Algeria have been reported at €500-505/mt CFR.
€1 = $1.18 (European Central Bank, July 2, 2025)