Due to difficulties in raising prices and weak demand, the situation in the southern European longs market has remained largely unchanged this week.
In the local rebar market in Italy, offers have been reported stable at €340/mt ex-works base (€605/mt ex-works including regular extras), but with possible discounts down to €320/mt ex-works base (€585/mt ex-works including regular extras). According to some sources, there might be attempts at price increases before the long production stoppages at steel mills - some starting from next week until early September - but demand is just about sufficient and, according to other sources, price increases would not be possible. Offers in the local Italian wire rod segment are also stable, and, according to another source, should remain the same for upcoming sales: at €645-€655/mt delivered for drawing wire rod, and €625-€635/mt delivered for mesh quality wire rod.
Regarding exports, ex-Greece official offers have been reported stable at around €620-630/mt FOB for rebar and €610-620/mt FOB for wire rod, although one source reported some attempts at price increases. Ex-Italy rebar offers have also been reported stable at €560-570/mt ex-works or €600-610/mt delivered to the customer.
In the import segment, ex-Turkey offers have remained unchanged: rebar has been reported at €565-570/mt CFR southern Europe, and wire rod at €570-575/mt CFR.