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ArcelorMittal raises longs prices in Europe, production halts expected in Italy

Thursday, 18 April 2024 16:30:45 (GMT+3)   |   Brescia
       

Increases of around €20/mt have been reported for ArcelorMittal’s long steel products in Europe, likely driven by the slight improvement in demand and sentiment. However, in Italy, the situation remains stagnant, with sources indicating that a recovery may only be seen towards mid-May.

In the local rebar segment in Italy, prices are reported to be stable at €300/mt ex-works base (€565/mt ex-works including regular extras), with variations of -€20/+€20/mt depending on quantities, buyers, and producers. It appears that producers are unable to regain ground on prices, and all sources have reported production halts expected for next week, between April 25 (Liberation Day in Italy) and May 1 (Workers’ Day). Scrap prices have increased by €5-10/mt week on week, but an upturn in longs prices, if any, is only anticipated from May 10 onwards.

Italian wire rod prices are reported to be stable week on week at €650-670/mt delivered for drawing quality and €640-650/mt delivered for mesh quality.

Regarding import offers, decreases have been noted from Turkey, which is currently offering rebar at around €580-590/mt CFR southern Europe for shipment at the end of April or in May (down by $5/mt on dollar basis from the highest level in the past two weeks), and wire rod offers are at €590-600/mt CFR for shipment at the end of April or in May.


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