The southern European longs market is slowing down for the holiday season, with prices remaining mostly stable, supported by high production costs and production halts. In the case of rebar and wire rod in Italy, the production stoppages are now expected to last around 20 days.
In the Italian rebar market, producers are reported to be offering prices in the range of €310-330/mt ex-works base (€575-595/mt ex-works including regular extras), according to sources. However, there is still uncertainty regarding prices after the post-holiday reopening. "We are concerned about energy price fluctuations during the holidays," commented an Italian source, adding "We will announce new prices after January 7."
As for exports, Greece is reported to have reduced its prices by approximately €10/mt, with offers at €590/mt FOB for rebar (€600-605/mt FOB for rebar in coils) and €580/mt FOB for wire rod. Meanwhile, ex-Spain offers have been reported at stable levels of approximately €605-610/mt CIF UK, equivalent to around €570-580/mt FOB.
On the import side, ex-Turkey prices have risen, partly due to euro-dollar exchange rate fluctuations. This week, ex-Turkey rebar offers have been reported at €575-580/mt CFR southern Europe and wire rod offers at €580-585/mt CFR, compared to last week’s €565-575/mt CFR and €575-585/mt CFR, respectively. Ex-Egypt offers have been reported at €575-580/mt CFR for rebar and €580-590/mt CFR for wire rod, up from last week’s €565-575/mt range. Finally, ex-Algeria offers have been reported at €570-585/mt CFR.