November has shown limited activity in the longs market in southern Europe, where prices are generally stable or declining, and demand remains only sufficient. Official announcements for year-end stoppages are expected, with various sources suggesting these may cover much of December.
In the Italian domestic rebar market, there have been few updates on pricing: the tradable range has remained stable at €280-300/mt ex-works base (€545-565/mt ex-works including regular extras), with some producers continuing to discuss potential increases, though these have yet to materialize.
In the local Italian wire rod market, however, mesh-grade quality has been reported at the higher end of last month’s range, specifically at €590/mt delivered, while drawing quality has been reported stable compared to October at €620-630/mt delivered.
In the export segment, Italian mesh-grade wire rod has been reported stable at €590/mt DAP central Europe, while drawing-grade wire rod has decreased by €10/mt since October and is now at €620-630/mt DAP central Europe. Ex-Italy rebar offers have also been reported at stable levels, at €570-580/mt FOB and approximately €570-590/mt delivered by truck throughout Europe.
Finally, regarding imports, ex-Turkey offers have been reported down $10/mt week on week on US dollar basis, but up €5-10/mt on euro basis due to exchange rate fluctuations: rebar has been reported at €580-590/mt CFR southern Europe for December shipments, while in the wire rod segment most Turkish mills have offered at €600-610/mt CFR.
Ex-Egypt offers have been reported at €565-575/t CFR for both rebar and wire rod, down around $5/mt, but up €5/mt compared on euro basis, compared to last week. Ex-Algeria offers have been reported for both rebar and wire rod at €595-600/mt CFR, increasing by about $5/mt and €10-15/mt, respectively.