No major changes have been reported in the Italian longs market, where mills appear to have wrapped up July sales and are preparing for summer shutdowns. Some sources are already predicting an uptick in September.
In the Italian rebar market, tradable prices have been reported at €350-360/mt ex-works base (€615-625/mt ex-works including regular extras), without much positive feedback despite impending stops by producers. Attempts by mills to raise prices have not yet been accepted by the market, but many are predicting that there will be a shortage of material and thus conditions for higher prices when they return in September.
Wire rod local prices also seem to be stable at €600/mt delivered.
As for export offers, ex-Italy prices were reported at €570-580/mt FOB for wire rod and around €565/mt FOB for rebar, also stable week-on-week. In addition, some sources said they have halted export sales as they appear to have run out of saleable material before the vacations.
In Italy, those who have not yet closed will stop beginning from next week, and closures are expected to average four to six weeks.