The European long products market registered different price trends this week, amid a general shortage of orders and a weak market sentiment, contrary to what might have been expected at the end of the steel production event held in Milan on May 6-8.
The local rebar market in Italy reported a reduction of about €20/t compared to last week, when prices were at €290-295/t Ex-work base (€555-560/t pickup including regular additional services). "Made in Steel has repeatedly led to disorientation in the market," the source commented, adding: "The next few weeks will be difficult." According to the representative of the Italian steel mill, no further price reduction is expected in the local market, and prices for finished products will follow the trend of rising prices for scrap metal. If, as SteelOrbis suggests, the scrap metal market in Italy grows by the end of the month, it is likely that rebar prices will also recover.
Meanwhile, end-users of rolled products are trying to take advantage of the stabilization of electricity prices and lower prices in the scrap metal market to lower their rates, and at the moment the market seems to have found equilibrium.
As for wire rod, prices on the local market in Italy have changed slightly compared to the last recorded levels, but without any changes. The quality of the hood decreased from 635-650 euros per ton to 625-640 euros per ton, while the quality of the mesh increased slightly from 605-620 euros per ton to 610-625 euros per ton. "After a bad quarter, Italian steel producers will try to maintain prices as much as possible," the source said, noting that "An increase in protective quotas may help in this.""
Continuing the wire rod theme, prices for the quality of the hood in Central and Eastern Europe are estimated at 645-660 euros per ton of mesh supplied, while the quality of the mesh in Central and Eastern Europe is estimated at 625-640 euros per ton. In Germany, the same prices are indicated at 650-665 euros per ton of delivered products and 615-630 euros per ton of delivered products, respectively.
In Poland, as in the whole of Central and Eastern Europe, the segment of high–quality wire rod for drawing is dominated by a slowdown in the automotive and mechanical sectors, while the segment of wire rod maintains good performance, as it is associated with the construction sector.
Regarding exports, rebar prices from Greece are reported to be 580 euros/ton FOB, while wire rod prices are 570 euros/ton FOB. These levels have not changed compared to last week. As for the export prices of rebar from Spain, market sources reported that they amount to
