The rebar and wire rod markets in southern Europe are not showing much activity after the summer closures. Prices have remained almost stable and demand is still quiet.
In the local Italian market, rebar producers continue to ask for around €360/mt ex-works base (€625/mt including regular extras), but customers seem to be buying the bare minimum and with little enthusiasm, waiting for price reductions that producers are now excluding.
Local wire rod offers in Italy have been reported at €590-600/mt delivered for drawing quality and €580-590/mt delivered for mesh quality, levels that are also found in other markets in southern Europe.
In the export market, tentative offers are starting to rise, but the market is not very active yet. Ex-Italy rebar offers have been reported at €520-530/mt ex-works or €540/mt FCA and mesh quality wire rod at €560/mt FCA. According to a source, ex-Greece offers have been reported at €550/mt ex-works for rebar and €560/mt ex-works for wire rod, but with no deal confirmed.
As for import rebar offers, these stand at $580/mt FOB from Turkey (approx. €560/mt CFR southern Europe, for September-October shipment) and $560/mt FOB from Egypt (approx. €550/mt CFR).
Wire rod is currently offered at $590-600/mt FOB from Turkey (€570-580/mt CFR), $570/mt FOB from Egypt (€550/mt CFR), $525-530/mt FOB from Malaysia (€540/mt CFR), $530/mt FOB from Indonesia (€540/mt CFR) and $540/mt FOB from Vietnam (€550/mt CFR).