There have been no major changes in the southern European rebar and wire rod markets, where offer prices have remained stable week on week, with further shutdowns expected from steel mills during the Easter period.
In the local rebar market in Italy, offers stand at €290-300/mt ex-works base (€555-565/mt ex-works including regular extras), similar to last week. Orders are few, but demand remains stable. Talk of widespread shutdowns for the upcoming Easter week have begun, although, according to some sources, it is uncertain whether these will bring price benefits to producers. "There has been a decline in raw materials because steel mills are halting production," commented an Italian trader, adding, "but longs producers fear a scrap rebound and being unable to cover costs."
Drawing quality wire rod offers in the local Italian market have been reported stable at €670-680/mt delivered, while local offers in Spain for mesh quality wire rod have decreased to around €615/mt delivered, compared to €630/mt delivered a month ago.
According to a source, ex-Greece prices have slightly decreased this week to about €600-620/mt FOB for rebar and wire rod, compared to €610-630/mt FOB last week. Meanwhile, ex-Italy offers have been reported at stable levels of €590-600/mt delivered for rebar and €610-620/mt delivered for mesh quality wire rod, but with little movement.
In the import segment, ex-Turkey rebar levels are now at €560-580/mt CFR southern Europe, similar to last week, while levels slightly below the lower end of the range are considered possible by some suppliers. In the wire rod segment, offer levels are still at €585/mt CFR for April shipments. A possible wire rod sale to Europe has been rumored, though no details have been disclosed by the time of publication. Prices from North Africa have also remained stable, particularly with ex-Egypt offers in the range of €560-570/mt CFR for both rebar and wire rod.