No significant changes were recorded compared to last week in the longs market in southern Europe, where offers from mills and traders remained stable and demand continued to be weak.
In Italy, producers’ local rebar offers have been reported stable at around €360/mt ex-works base (€625/mt ex-works including regular extras). “Buyers are still reluctant to accept these prices,” commented an Italian source. “Demand is scarce and construction sites are progressing slowly”.
From Italy, sources have reported rebar export offers at around €580-590/mt FOB, declaring that the €590-600/mt FOB reported last week are currently too high. Ex-Greece offers, moreover, have been reported stable at €600/mt FOB for rebar and €620/mt FOB for wire rod.
Regarding import offers, ex-Turkey rebar for July shipments has been quoted at €565-570/mt CFR southern Europe, up €5/mt from last week; ex-Turkey wire rod offers, however, have been reported stable at €570-575/mt CFR, though some producers offered it at €580/mt CFR.