Southern European longs market mostly stable, slight rises expected in February

Friday, 26 January 2024 14:59:49 (GMT+3)   |   Brescia
       

The southern European longs market has not shown major differences compared to last week, with expectations of stability or slight increases for the month of February. In Italy, the rebar segment is struggling to rise, while the wire rod segment is doing better. 

The local rebar market in Italy is characterized by low demand, despite proposals for increases from producers. Currently, prices mostly fluctuate in the range of €350-360/mt ex-works base (€615-625/mt ex-works including regular extras), but sources report a lack of interest from buyers and, despite producers’ intentions to bring prices to €400/mt ex-works base (€665/mt including regular extras), it seems that it will be difficult to exceed €380/mt ex-works base (€645/mt ex-works including regular extras). There have been no sudden movements, therefore, in this week of transition. An Italian source commented, “We will try to maintain the levels at €360-380/mt ex-works base (€625-645/mt ex-works including regular extras). For February, it will be difficult to do more, despite the increases in scrap.” 

Unlike rebar, local wire rod in Italy shows a better performance. Drawing quality wire rod offers have been seen at €680-700/mt delivered in Italy, up by €20/mt on average compared to offers in January after the holidays. 

In the export segment, ex-Italy rebar offers have been reported at around €615-625/mt FOB, almost stable week on week. However, no offers by ship have been reported for wire rod. Also, in this case, considering a possible increase in scrap and energy costs under control, a stable movement or slight increase of around €10/mt is expected in February. 

In the import segment, ex-Turkey offers have been reported at €600-610/mt CFR southern Europe for rebar and €620-630/mt CFR for wire rod, but no deals have been declared lately, and ex-Egypt offers have been reported at around €590/mt CFR for wire rod.


Similar articles

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

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

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

US import long steel prices steady following US election, Liberty to remain down until March 2025

15 Nov | Longs and Billet

Stagnant market for rebar and wire rod in Italy amid limited demand, almost stable prices

15 Nov | Longs and Billet