The European longs market showed some declines compared to the latest levels recorded by SteelOrbis, following the downtrend in scrap prices and the decrease in demand that came at the end of a holiday period.
Local rebar prices in Italy were down by around €30/mt compared to two weeks ago, standing at €300-310 ex-works base (€565-575/mt ex-works including regular extras). A representative of an Italian steel mill believes though that there are expectations for an improvement, as May is a full working month, and they are expecting a recovery in finished steel demand. Another major Italian steel mill believes – in fact – that finished steel demand on the local market is not bad, especially in the infrastructure segment, thanks to the PNRR (National Recovery and Resilience Plan) funds.
As for wire rod, prices on the local Italian market did not suffer any changes, as sales are still lagging behind after the holidays. However, a representative of an Italian steel mill is confident that the market will recover soon. Having said that, local prices for drawing quality wire rod remain unchanged compared to two weeks ago at €635-650/mt delivered, while mesh grade quality wire rod still stands at €605-620/mt delivered, also unchanged compared to the same period.
The longs market in Germany recorded a better performance in the first quarter of 2025 compared to the last quarter of 2024, and 2024 longs sales in Poland were good, according to a source. The same source admitted that longs sales in Italy were not brilliant, but he expects a recovery in the second half of this year.
In the export segment, ex-Greece rebar prices now stand at €580/mt FOB, whereas wire rod prices for the same origin stand at €570/mt FOB, marking a decline of €15-20/mt and €20/mt respectively, compared to April 17.
Import offers of rebar and wire rod from Turkey stand at €500-510/mt CFR and €510-520/mt CFR respectively, unchanged compared to April 24. Import rebar prices from Egypt stand at around €515-520/mt CFR and import wire rod prices from the same origin stand at €525-530/mt CFR. Finally, import rebar prices from Algeria stand at slightly more than €505/mt CFR, whereas import wire rod prices from the same origin stand at €510/mt CFR. Price changes are calculated based on the European Central Bank’s exchange rate €1 = $0.88 (May 8).