Stoppages and slowdowns in southern European longs production

Friday, 29 March 2024 17:09:28 (GMT+3)   |   Brescia
       

With Easter approaching and demand remaining weak, producers in southern Europe are beginning to halt or slow down production. Italian rebar producers, in particular, are not selling much and consequently continue to fill their warehouses. To limit the impact of this situation and avoid consuming too much scrap (prices of which could increase in a few weeks’ time), many are opting to halt production for one or more weeks.

In the local Italian rebar market, offers have been reported stable week on week at €290-300/mt ex-works base (€555-565/mt ex-works including regular extras). Now there will be one or more weeks of shutdowns at the steel mills and some sources expect a slight rebound in prices upon the restart.

In the Italian wire rod segment as well, activity has been weak and offer prices have been reported at stable levels. Offers have been stated at €670/mt delivered for drawing quality, the same price as last week.

Regarding imports, slight increases in offers from Turkey have been reported. This week, ex-Turkey rebar has been offered at €575-585/mt CFR southern Europe (compared to the range of €560-580/mt CFR last week) and wire rod at €585-595/mt CFR (compared to €585/mt CFR reported a week ago). Ex-Egypt offers have also seen a slight increase, now at €570-575/mt CFR for wire rod, compared to the previous range of €560-570/mt CFR. From Asia, finally, wire rod offers at €545-550/mt CFR have been reported.


Similar articles

Local Chinese longs prices decline, but expectations rather positive

04 Nov | Longs and Billet

MOC: Average steel prices in China see slight decreases during Oct 21-27

01 Nov | Steel News

US domestic long steel prices flat, wire rod maintains premium with Liberty status still murky

31 Oct | Longs and Billet

US import long steel prices flat amid reports of increased mill discounting, Liberty plant status unclear

31 Oct | Longs and Billet

Romanian longs prices stable as mood locally remains unchanged

31 Oct | Longs and Billet

Turkish rebar mills still struggling to export, local sales also weaken

31 Oct | Longs and Billet

Southern European longs market faces slow activity, difficulties in hiking prices

31 Oct | Longs and Billet

Iskenderun-based Turkish mill increases its rebar price once again 

31 Oct | Longs and Billet

Iskenderun-based Turkish mill raises its rebar price further

30 Oct | Longs and Billet

EU’s organic coated sheet and wire rod import quotas for Turkey almost used up

30 Oct | Steel News