The situation in the southern European longs market remains very similar to last week: producers continue to seek price increases, but buyers are not yet willing to concede to them in all markets.
In the Italian domestic rebar segment, producers’ official offers have been reported at around €340-350/mt ex-works base (€605-615/mt ex-works including regular extras), but buyers do not seem willing to accept these increases. The tradable level remains that of older orders at around €320-330/mt ex-work base (€585-595/mt including regular extras). "We hope that orders will be completed by the end of the month, and then we'll see," commented an Italian source.
Regarding the Italian wire rod segment, local price levels have been reported stable for drawing quality at €640-660/mt delivered in Italy, and export offers at €670-690/mt delivered in Europe. However, new offers are expected to come out in the coming days, and there could be changes for next month. "There has been an upward trend in Italian scrap prices, and this cannot be ignored in June prices, which will have to be higher," a source at an Italian producer commented.
Regarding exports, ex-Italy rebar offers have been reported at €580-590/mt ex-works, with buyers' responses varying depending on the market. According to an Italian source, eastern Europe is reacting well, while the German market is not. Ex-Greece offers have been reported at €595/mt FOB for rebar and €605/mt FOB for wire rod, in the same range as last week.
In the import segment, Turkish offers have been slightly lower: €560-570/mt CFR southern Europe for rebar, compared to €570-585/mt CFR last week, and €580-590/mt CFR for wire rod (-€5/mt week on week) for June/early July shipments. Ex-Asia wire rod offers have been reported at €540-550/mt CFR, stable week on week.