The European longs market has shown signs of an upward trend this week after ArcelorMittal's request for increases of around €30/mt across Europe for both rebar and wire rod. The reduction in supply, the rebound in international markets, the increase in scrap prices, and uncertainties about the beginning of 2026 are leading European producers to adjust their prices.
In this regard, a market player has reported that contracts have actually been closed at €10/mt higher. Another source commented, "The real issue is not about prices being higher by €10/mt or €30/mt, but that the volumes come under the heading of December orders, while assuring customers that those same volumes can also be delivered in January at the same price. [...] And this makes it impossible [for competitors] to propose serious increases, such as €20/mt."
As for rebar offers in Italy, although "the volumes involved [in sales] are not high", as an Italian manufacturer has reported, requests have reached up to €330/mt ex-works base (€590/mt ex-works including regular extras), with actual orders closed at €300-320/mt ex-works base (€560-580/mt ex-works including regular extras). Steel producers are attempting to start the new year by consolidating higher price levels, also because - according to sources - customers are not stockpiling.
The scarcity of circulating volumes also applies to the Italian wire rod market, where the price increases assumed for the beginning of December have consolidated at €570-585/mt delivered for drawing quality and €550-565/mt delivered for mesh quality, marking an increase of about €5/mt compared to the end of November. In the central and eastern European market, price increases compared to the same period have amounted to €5-10/mt, bringing drawing quality wire rod and mesh grade wire rod prices to €575-590/mt delivered and €565-575/mt delivered, respectively. In Germany, on the other hand, prices have remained stable at €575-590/mt delivered for drawing quality and €550-565/mt delivered[JF1] for mesh grade wire rod. Finally, the prices of the same products in Spain have consolidated at €565-590/mt delivered and €540-570/mt delivered, respectively. According to sources, a Spanish producer who was initially offering at the lower end of the range for January sales has recently requested increases of up to €40/mt.
Still in Spain, rebar export prices have been reported at about €570/mt FOB and at €590/mt FOB for rebar in coils.
In the import market, rebar prices from Turkey have been reported at €515/mt CFR, whereas wire rod prices are at €525/mt CFR, substantially stable compared to the most recent prices reported by SteelOrbis two weeks ago. Rebar prices from Egypt have been reported at €490-500/mt CFR, with Egyptian wire rod prices at €505-510/mt CFR. Finally, prices from Algeria have been reported at €505/mt CFR and €510/mt CFR, respectively, for rebar and wire rod.