The European long position market is generally stable
No major changes were reported in the European long products market this week, while the small uptrend recorded last week seems to have already exhausted its momentum.
No changes in base prices have been reported in the local rebar market in Italy, which remain stable in the range of 260-280 euros per tonne (525-545 euros per tonne, including regular additional costs). "October was a good month in terms of sales volumes," said a source at one of the Italian factories. "There is a slight decline in November, and it will continue until the end of the month," he concluded. After all, as SteelOrbis suggested last week, the grounds for price increases in the local market were very weak, so much so that prices had already stabilized.
As for wire rod, local prices in the Italian market are 565-580 euros per ton for the quality of the drawing and 545-560 euros per ton for the quality of the mesh.
No changes were reported in the export markets either, while prices for imported rebar from Turkey were reported to be 500-505 euros per ton CFR, down 5 euros per ton at the top of the range due to exchange rate fluctuations, but up 5 dollars/million tons in dollar terms. compared to the previous week. Prices for wire rod of the same origin amounted to 505-515 euros per ton, which is 5 euros lower than in the lower part of the range, but also higher by 5 dollars per ton in dollar terms compared to the previous week
.Prices for the import of rebar and wire rod from Egypt, according to reports, amounted to 495 euros per ton and 500-510 euros per ton, respectively, unchanged in euro terms compared to last week. Finally, it was reported this week that the import prices for wire rod from Indonesia are 450 euros per ton CFR
.Steelorbis.com