In Italy, domestic rebar prices have not changed in the past two weeks, remaining in the range of €750-760/mt ex-works. Demand is not particularly strong, although scrap prices have remained high and so most sources believe that finished steel prices will remain at current levels at least until the summer holidays in August.
At the same time, demand appears to be very strong in the rest of Europe, "with the exception of the Balkans," a representative of one producer told SteelOrbis. In several European markets, prices are €50 €/mt higher than domestic prices. The same source reported that recently "small volumes were sold by ship at a price of €700/mt FOB to Mediterranean countries."
Meanwhile, the situation in the Italian wire rod market has been better compared to that in the rebar market. Local prices compared to the end of June have increased by €20/mt on average, reaching €850-860/mt delivered to customer in the case of drawing quality wire rod (SAE1006). Demand is quite strong, while supply is "somewhat lacking". Finally, prices for the export markets are "in line with domestic ones".
Most sources believe that the Italian long steel market will remain rather strong until the holidays and even after. Speaking of the summer stoppages, several producers this year have decided to suspend their activities only for a week or so.