Southern European longs market unchanged, but sellers hope for increases

Friday, 29 September 2023 16:18:30 (GMT+3)   |   Brescia
       

In the southern European long products market, there have been no significant changes in prices, indicating a period of stability, with traders awaiting new orders for October.

In Italy, specifically in the local rebar market, sellers are still exhausting old orders in the €300/mt ex-works price range (€565/mt ex-works including regular extras), but they have started to increase prices by €30/mt for new orders. Customers are expected to resume purchases around October 6-10, and only then will it become possible to understand the real tradable price.

Local wire rod SAE1006 prices have been stable in Italy at €590-600/mt delivered. However, some sources suggest that customers are hoping for price reductions, while mills may seek to implement some increases due to rising costs and reduced production. Currently, there is limited demand from buyers.

In the export segment, ex-Italy prices have been reported at €550-560/mt FOB for rebar and €530-540/mt FOB for wire rod, both stable week on week. Greece has been offering rebar and wire rod at €570 and €580/mt FOB, respectively, while ex-Spain offers have been stated at €580/mt FOB for rebar.

Turkish offers have remained unchanged at $565-580/mt FOB (€565-575/mt CFR southern Europe) for rebar and $580-590/mt FOB (€570-580/mt CFR) for wire rod. Egypt’s offers for wire rod have been stable at $560-575/mt FOB (€560-575/mt CFR).


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