Long products prices continued to follow various trends in European markets this week. Rebar and wire rod prices in Italy declined due to rising local scrap metal prices, while import prices from Turkey and North Africa remained mostly stable or rose slightly.
Players in the Italian long pipe market market participants reported the latest prices for fittings at the level of 280-290 euros per ton from the factory (545-555 euros per ton from the factory, including the usual additional costs), but lower prices of 10-15 euros per ton are also possible for larger orders. However, according to some reports, rumors of a new price increase in the local scrap metal market in Italy these days may lead to an increase in rebar prices as early as the end of this month or early June. In addition, "small signs, such as the growing demand for special steels, make me think about a gradual return to normal life," the source said.
As for wire rod, the Italian market remained calm this week, although some customers received discounts of about 10-15 euros per ton for large orders from regular customers. However, in general, prices remain stable at the level of 625-640 euros per ton of high-quality wire rod for drawing and 610-625 euros per ton of mesh wire rod. The market will have to wait for the next round of sales to identify any effective price changes.
SteelOrbis has not received any information about the change in prices for rolled products from Greece, while prices for rebar from Spain to UK ports have changed. It was reported that the price is about 580 euros per ton on FOB terms.
Finally, in the import market, rebar and wire rod prices from Turkey are reported to be 515-520 euros per ton CFR and 520-530 euros per ton CFR, respectively, which is 5 euros higher/mt is at the upper end of the range compared to last week. According to reports, prices from Egypt are 510-515 euros per ton of rebar and 525-530 euros per ton of wire rod, while prices from Algeria are 515-520 euros per ton of rebar and 520-530 euros per ton of wire rod. All prices are calculated based on the exchange rate of 1 US dollar = 0.88 euros (European Central Bank, May 22).
steelorbis.com
