This week, the first price increase occurred in the European long paper market, mainly due to the fact that supply needs are forcing end users to accept the requested prices. Nevertheless, both orders and production are proceeding extremely slowly, and market participants continue to wait for a clearer development of the situation in the Middle East.
As for the rebar market in Italy, the new level of orders remains at the level of last week, i.e. about 350 euros per ton of finished products (610 euros per ton of finished products, including regular additional costs). However, the source said that after confirming this price, manufacturers have again suspended valve quotes and are considering the possibility of an even greater increase. "I expect a significant increase in prices in the market," said the Italian trader. "Whoever wants to buy will have to agree."
"[Producers]They are also trying to raise wire rod prices, but the current situation is not helping, they are experiencing great difficulties, and demand is low," said another trader. As for manufacturers, one of the largest Italian factories continues to refrain from new offers on both the domestic and export markets, as a result of which prices remain unchanged again.
If we talk about export markets, the prices for fittings offered by Spain to the ports of Southern Europe are about 610 euros per ton on FOB terms. On the other hand, there were reports on new offers on the import markets for rebar and wire rod from Egypt at a price of 535 euros per ton and 540 euros per ton, respectively.
1 EURO = 1.15 US dollars (European Central Bank, March 19)
Author: SteelOrbis Editorial Team
Steelorbis.com
