Sentiment in the southern European longs market remains sluggish again this week amid extended holiday weekends and poor demand.
In Italy, there is an attempt to raise the price of local rebar to €480-500/mt ex-works base (€745-765/mt ex-works including regular extras), up by €20/mt week on week, according to some sources, but there has been little response from customers for the time being. Thus, the reference tradable price remains at €470-480/mt ex-works base (€735-745/mt ex-works including regular extras).
"Demand is acceptable, not great. In short, we are moving forward," one Italian producer, said.
Wire rod offers in the local market are stable at €720/mt DAP northern Italy.
Official rebar export offers from Italy are still around €670/mt FOB, but without much demand due to the various holidays.
Export offers from Greece were reported at €670/mt FOB for rebar, down about €10/mt week on week, and €690/mt FOB for wire rod, stable from last week.
The import segment is quiet, particularly the MENA region, mainly due to the upcoming Eid al fitr holiday.