Southern European longs market awakes slowly after the holidays

Friday, 12 January 2024 16:23:02 (GMT+3)   |   Brescia
       

The southern European longs market is slowly waking up after the holiday season: activity is limited, operators are still trying to understand the real price levels, and the answers will probably arrive by the middle of next week. 

In Italy, some sources stated that they had heard rumors of increases of up to €50/mt for rebar and wire rod, but no official offers have been reported for the moment. According to some sources, current levels would be around €370-380/mt ex-works base for rebar (€635-645/mt ex-works including regular extras) and €640-650/mt delivered for mesh quality wire rod

Regarding the export segment, ex-Greece offers have been reported at around €650/mt FOB for rebar and €640/mt FOB for wire rod. While Spain, according to some sources, has offered rebar at €640-650/mt delivered to the Baltic region (approximately €610-620/mt FOB). In general, the market is still in a holiday mood. Most customers have good stocks and are not inclined to make big decisions. 

In the import segment, ex-Egypt offers have been reported at around €580/mt CFR southern Europe for rebar and €600/mt CFR for wire rod, while ex-Turkey offers have been stated at €585-595/mt CFR for rebar, increasing by €10-20/mt compared to a week ago, and €600-610/mt CFR for wire rod, also up €10-20/mt compared to a week ago. Finally, from Asia, ex-Vietnam wire rod offers have been reported at €590/mt CFR.


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