The European long position market has remained virtually unchanged this week, as demand is still weak and market fundamentals have not changed. While Turkey mostly remains on the sidelines, and against the background of a rather pessimistic market sentiment, prices for most rolled products in Europe have decreased compared to last week.
However, in Italy, local rebar prices decreased by at least 10-20 euros per ton compared to last week, remaining at the same level. at a price of 250-260 euros per ton from the factory (515-525 euros per ton from the factory, including the usual additional costs), but for orders of more than 500-1000 tons or serious buyers, sales were also held at a price of 240 euros per ton from the factory (505 euros per ton from the factory, including the usual additional costs). The market is reporting a slight recovery in demand, and end-users are noting this decline, but most players predict further price declines in the coming weeks, albeit at a slower pace. "The competition is very tough. Everyone is trying to get a little lower," said a representative of the Italian factory. "This will continue until someone decides to stop production, because we currently have an excess of fittings on the market, and the strategy of reducing scrap metal prices will only work to a certain extent," he concluded. Rebar consumers are reporting low inventories, and as soon as product prices show serious signs of recovery, they will immediately start a race to buy to avoid further price increases.
In the wire rod segment in Italy, prices remained unchanged week after week, and October is likely to ensure stable prices for both the quality of the hood and the quality of the mesh - 585-600 euros per ton and 570-585 euros per ton, respectively. Demand remains moderate, but the market may have bottomed out or is very close to it.
Meanwhile, Italy's two main steel producers have released their financial results for 2024 with different production volumes. However, sources from both companies claim that the data for 2025 has already improved compared to last year.
In the export market, prices for rebar from Spain to UK ports amounted to 535 euros per tonne FOB, which is 5 euros lower than last week. As for imports, prices for long products from Turkey also remained low, both for rebar and wire rod, while the euro-dollar exchange rate remained unchanged. Consequently, prices for rebar and wire rod from Turkey to the ports of Southern Europe, according to available data, are 480-485 euros per ton CFR and about 490 euros per ton CFR, respectively. Finally, prices for wire rod from Indonesia, according to available data, are about
