The situation in the southern European longs market is similar to last week, with Italy experiencing decent demand locally but not as much abroad. Producers are seeking increases in their offer prices for February.
In the current scenario for local rebar in Italy, although the latest reported transactions were still concluded at prices in the range of €360-380/mt ex-working base (€625-645/mt ex-works including regular extras), the target of many suppliers remains €400/mt ex-works base (€665/mt ex-works including regular extras), especially due to production and raw material costs.
In the wire rod segment in Italy, offers have been heard at €660-680/mt delivered, remaining stable week on week. However, according to some sources, they could increase further in the coming weeks, presumably in February.
Concerning exports, ex-Italy rebar offers have been reported at €610-620/mt ex-works, but foreign demand is scarce and producers seem to be more interested in the local market. Greece, according to a source, has kept its export offers stable week on week, at €650/mt FOB for rebar and €640/mt FOB for wire rod.
Finally, looking at the import market, ex-Egypt rebar and wire rod offers have been reported stable at €585-600/mt CFR southern Europe, while ex-Turkey offers are at €590-600/mt CFR for rebar and €610-620/mt CFR for wire rod, both increasing by around €5-10/mt week on week. From Asia, offers have come from Indonesia and Malaysia at €570-575/mt CFR for wire rod.