The southern European longs market have been mostly stable, except for the local Italian rebar market, where producers are attempting price increases. However, we will have to wait until at least late September to see whether they are accepted or not.
Italian producers, after booking orders in the €290-310/mt ex-works range (€555-575/mt ex-works including regular extras), have increased offers by €30-50/mt, bringing the range to €320-360/mt ex-works base (€585-625/mt ex-works including regular extras). Only when the old orders are exhausted, however, will it be possible to understand the actual market movements. SAE1006 quality wire rod has been stable at €590-600/mt delivered.
In the export segment, ex-Italy rebar offers have been at €550-560/mt FOB, but, according to some sources, the supply from producers is tight. Italian wire rod is being offered abroad at around €530-540/mt FOB, with buyers’ requests at €520/mt FOB.
Ex-Spain rebar offers to England have been reported at £525-535/mt FOT (about €605-615/mt), with the cost of transport at £35 (about €40). To Lithuania and northwestern Europe, ex-Spain rebar offers have been reported at €610/mt CFR (about €580/mt FOB). In general, the sources are talking about ex-Spain rebar offers ranging from €580/mt to €605/mt FOB, with price differences due to volumes, markets, and suppliers. Previous ex-Spain rebar prices were at €560/mt FOB, and the increases are due to the improved moods in the region and overall in the EU. Ex-Portugal rebar offers have been reported at €550/mt FOB.
On the import side, currently, ex-Turkey official rebar offers are standing at $570-580/mt FOB for late September-October shipments (€565-575/mt CFR southern Europe), stable over the past week. Sources report a few mills may consider quoting $565/mt FOB for serious buyers only (€560/mt CFR). In the wire rod segment, Turkish official wire rod offers are available at $580-590/mt FOB for late September-October shipments (€570-580/mt CFR), down by $10/mt over the past week.
Ex-Egypt wire rod prices have been at $560-575/mt FOB (€560-575/mt CFR), while ex-Asia wire rod offers have been at $570/mt CFR Europe (€530-535/mt CFR).