Southern European longs market mostly stable

Friday, 19 January 2024 13:50:42 (GMT+3)   |   Brescia
       

The situation in the southern European longs market is similar to last week, with Italy experiencing decent demand locally but not as much abroad. Producers are seeking increases in their offer prices for February. 

In the current scenario for local rebar in Italy, although the latest reported transactions were still concluded at prices in the range of €360-380/mt ex-working base (€625-645/mt ex-works including regular extras), the target of many suppliers remains €400/mt ex-works base (€665/mt ex-works including regular extras), especially due to production and raw material costs. 

In the wire rod segment in Italy, offers have been heard at €660-680/mt delivered, remaining stable week on week. However, according to some sources, they could increase further in the coming weeks, presumably in February. 

Concerning exports, ex-Italy rebar offers have been reported at €610-620/mt ex-works, but foreign demand is scarce and producers seem to be more interested in the local market. Greece, according to a source, has kept its export offers stable week on week, at €650/mt FOB for rebar and €640/mt FOB for wire rod

Finally, looking at the import market, ex-Egypt rebar and wire rod offers have been reported stable at €585-600/mt CFR southern Europe, while ex-Turkey offers are at €590-600/mt CFR for rebar and €610-620/mt CFR for wire rod, both increasing by around €5-10/mt week on week. From Asia, offers have come from Indonesia and Malaysia at €570-575/mt CFR for wire rod.


Similar articles

North African longs exporters mainly sold out until Jan, Russian and Chinese most aggressive

22 Nov | Longs and Billet

MOC: Average steel prices in China down slightly during Nov 11-17

22 Nov | Steel News

Asian wire rod prices edge down further despite rises in Chinese futures prices

21 Nov | Longs and Billet

Southern European longs market stable, shutdowns expected

21 Nov | Longs and Billet

US import long steel markets creep higher ahead of expected slow US Thanksgiving holiday week

21 Nov | Longs and Billet

US domestic rebar pricing up slightly while wire rod remains steady on week 

21 Nov | Longs and Billet

Longs prices in Romania increase, some interest in ex-Egypt material

21 Nov | Longs and Billet

China’s rebar output down 14.3 percent in January-October

20 Nov | Steel News

Local Chinese longs prices fall further as fundamentals remain weak

18 Nov | Longs and Billet

US domestic rebar and wire rod pricing still flat, trend seen higher as year-end nears

15 Nov | Longs and Billet