In the southern European longs market, two distinct trends have emerged during the week: one for the Italian domestic market and another for the export markets, particularly in eastern Europe. While local Italian prices are struggling to rise and, according to some sources, even experiencing a slight decline, there are better prospects for price increases in exports.
In the Italian rebar segment, despite rising scrap prices, producers seem unable to raise their selling prices. The workable price is reported to be at €310-320/mt ex-works base (€575-585/mt ex-works including regular extras), although offers are still available starting at €330/mt ex-works base (€595/mt ex-works including regular extras).
On the export side, a Greek source has revised last week’s prices, maintaining them at the levels seen two weeks ago: €610/mt FOB for rebar and €600/mt FOB for wire rod. Italian rebar, on the other hand, has been reported at around €610-630/mt delivered to eastern Europe, reflecting an increase of about €10/mt in recent weeks.
Finally, Turkey has kept its dollar-based offers stable week on week, although they are slightly lower in euro terms due to fluctuations in the exchange rate. Turkish rebar has been offered at €565-570/mt CFR southern Europe, with wire rod at €570-580/mt CFR.
$1 = €0.95 (February 27)