Prices have remained unchanged in the rebar and wire rod market of southern Europe as the holiday season begins. Producers are starting to talk about likely attempts at price increases upon the post-holiday reopening of the market.
In the local rebar market in Italy, no new developments have been recorded and demand remains sluggish. Some sources have reported orders at the lower end of the €320-340/mt ex-works base range (€585-605/mt ex-works including regular extras). "I don't think there will be new orders from now on, and the mills have no intention of raising prices for now," one Italian source commented, adding, "After the holidays, price increase attempts are expected because scrap prices cannot remain this low." Many operators, however, argue that, while a scrap price increase is almost certain, for finished products, it is more of a hope than a certainty.
Ex-Greece offers have also been reported stable at €620/mt FOB for rebar and at €610/mt FOB for wire rod.
As for imports, ex-Turkey offers have been reported with a slight decrease for rebar at €560-570/mt CFR southern Europe and stable for wire rod at €575-580/mt CFR. Ex-Egypt offers have been reported at €555-565/mt CFR for both rebar and wire rod, while ex-Algeria offers for wire rod have been at about €565-570/mt CFR. Finally, ex-Asia wire rod has been offered at €510-520/mt CFR.