The have been no major changes in the southern European longs market in the past week as compared to previous week: price increases seem to have stopped at the current levels for a couple of weeks now and demand is present but not excellent.
In the local rebar market in Italy, prices have encountered some difficulties in continuing their upward curve after reaching €330-340/mt ex-works base (€595-605/mt ex-works including regular extras). Producers would like to go as high as €360/mt ex-works base (€625/mt ex-works including regular extras) due to high production costs, but, according to sources, this is not yet possible. “There is no lack of demand, but it is not that strong” one source commented. In the local Italian wire rod segment, on the other hand, offers for drawing quality have been reported at stable levels around €620/mt delivered and mesh quality around €600/mt delivered.
In the export segment, ex-Greece offers have been reported stable at €610/mt FOB for rebar and €600/mt FOB for wire rod.
Finally, import offers from Turkey have also been reported stable, at €555-565/mt FOB for rebar and €565-575/mt FOB for wire rod.