The southern European longs market continues to show little movement, with demand remaining barely sufficient and producers struggling to secure the price increases they are aiming for.
In Italy’s domestic rebar market, sources report that the tradable price is around €330/mt ex-works base (€595/mt ex-works including regular extras), though some deals are still being closed at €320/mt ex-works base (€585/mt ex-works including regular extras). While producers are officially quoting €350-360/mt ex-works base (€615-625/mt ex-works including regular extras), buyers are largely ignoring this range. "The market remains as confusing as ever and volumes are still too low," a local trader commented.
However, sources suggest that an upturn could be on the horizon in March for both rebar and wire rod. Meanwhile, weak export demand is adding further strain to the Italian domestic market, which is already struggling with high production costs.
Greek export prices have been reported stable compared to last week at €610/mt FOB for rebar and €600/mt FOB for wire rod. Some Spanish offers, however, have risen by about €20/mt, according to a source, bringing the new range to €590-610/mt FOB.
In the import market, Turkish offers have remained unchanged from last week at €570-575/mt CFR southern Europe for rebar and €575-585/mt CFR for wire rod.