The mood in the European long position market has hardly changed this week, and market participants continue to report pessimistic forecasts for the coming days.
The difficult international situation is the Houthi attacks in the Red Sea, new changes in US tariffs, the policy and the euro-dollar exchange rate, which are still unfavorable for European sales, as well as the approach of the summer holidays, are pushing operators away and forcing them to wait for better times.
In the local Italian long pipe market, rebar prices have dropped again, "but trust me, no one is selling at these levels," an Italian source at the plant commented. "It's just that everyone is becoming more and more aggressive, and this is bringing the market to a standstill," he concluded. According to SteelOrbis, local rebar prices in Italy decreased by another 10 euros per ton this week, amounting to 220-230 euros per ton from the factory (485-495 euros per ton from the factory, including the usual additional costs), although some sources still report a decrease in rebar prices in Italy by another 10 euros per ton.
The base cost is 240 euros per ton (505 euros per ton, including the usual additional services). The demand for fittings in the Italian market remains weak, but is still being met by adequate offers.
Local Italian factories and merchants are still reporting logistical difficulties related to a shortage of delivery trucks, very high prices and traffic jams that will begin with the start of the summer season.
A similar situation is developing in the Italian wire rod segment, where prices remain stable week after week, but "the market reaction is very slow," the source said. Local wire rod prices are reported to be 610-625 euros per ton, supplied based on the quality of the drawing, and 595-610 euros per ton, supplied based on the quality of the mesh.
In Eastern Europe, especially in Poland and Slovakia, sources report weak demand for both rebar and wire rod, while prices for rebar in Poland are low, with an announced supply volume of about 570-575 euros per ton.
As for exports, prices for rebar and wire rod from Greece did not change and remained at 575 euros per ton FOB and 570 euros per ton FOB, respectively. Prices for rebar from Spain to UK ports, on the contrary, decreased by 5-10 euros per ton compared to last week and amounted to 545 euros per ton on FOB terms. Italian fittings were sold at a price of 540 euros per ton FOB.
In the import market, Turkish rebar and wire rod were priced at 480-490 euros per ton CFR and 490-495 euros per ton CFR, respectively, while prices for Algerian material were quoted at 510 euros per ton CFR for both. Egyptian fittings are reportedly for sale
