Prices in the rebar and wire rod market in Italy have been reported stable, despite some attempts to raise them, which for now only serve to close open orders at the previous price range. Ex-Greece longs offers, however, have dropped, while import offers from North Africa and Turkey have remained almost stable.
In the local rebar market in Italy, producers started asking for increases of €20-30/mt last week, corresponding to offers of around €330/mt ex-works base (€595/mt ex-works including regular extras), but for now, orders are still being closed at the old prices, around €300/mt ex-works base (€565/mt ex-works including regular extras).
Ex-Italy offers have been reported stable at €600/mt delivered for rebar within Europe and €570-580/mt FOB for rebar shipped by sea. Meanwhile, ex-Greece offers have dropped by around €20/mt, now reported at €595-600/mt FOB for rebar and €590/mt FOB for mesh quality wire rod. Additionally, ex-Spain offers have been reported at €600/mt CIF Irish ports for rebar, corresponding to around €570/mt FOB, stable week on week.
Lastly, import offers from Turkey and North Africa have been reported almost stable, with slight decreases mainly due to euro-dollar exchange rate fluctuations. Ex-Turkey offers have been reported at €550-560/mt CFR southern Europe for rebar and €560-570/mt CFR for wire rod. Ex-Egypt rebar and wire rod offers have been stated at €530-540/mt CFR, while ex-Algeria rebar offers have been reported at €535/mt CFR. However, according to some sources, discounts might be available from North African steel mills, bringing the tradable price to around €520-530/mt CFR.