South Europe rebar, wire rod exports up $13 on scrap rebound

Export prices for Southern European rebar and wire rod have risen by €10 ($13) per tonne this week, market sources have told Metal Bulletin sister title Steel First.

Export prices for Southern European rebar and wire rod have risen by €10 ($13) per tonne this week, market sources have told Metal Bulletin sister title Steel First.

Recent gains in scrap values, compared with their trough in June, have filtered through to the market, the sources explained.

“Producers are trying to increase prices […] mainly because scrap prices are still moving up,” a trader in Spain said on Wednesday July 24.

Prices for rebar exports from Spain, Portugal and Italy are now €450-460 ($595-608) per tonne fob main Southern Europe port, compared with €440-450 per tonne previously.

Buying activity in the market continues to be very slow at the moment; however, as the celebrations of the Islamic holy month of Ramadan mean that there is little or no trade with key markets in North Africa.

“It is still very quiet because of Ramadan, and after that the mills in Southern Europe will be closed down for maintenance,” a trader in Italy said.

Exports of mesh-quality wire rod from Southern Europe are being sold at €460-470 per tonne fob main Spanish, Italian or Portuguese port for production in August, compared with €450-460 last week.

Elfi Middelbeek
emiddelbeek@steelfirst.com
Twitter: @EMiddelbeek_SF

What to read next
Steel trading and production have come to a halt in the eastern Turkish region of Iskenderun following a devastating earthquake that hit the region on Monday February 6 and put mills in the area under force majeure, sources told Fastmarkets on Tuesday
A 120-day closure of four Illinois dams scheduled for 2023 will disrupt barge shipments and have potentially both negative and positive impacts on scrap and finished steel products from Canada to Texas
Market participants are cautiously optimistic about a rebound in iron ore concentrate premiums, with steelmakers around the world set to ramp-up production in line with an anticipated increase in demand for steel products, Fastmarkets understands
General Motors (GM) is investing $650 million to develop the Thacker Pass mine in Nevada, the largest known source of lithium in the US and the third largest in the world
Electrolysis processes developed by Boston Metal and Electra that eliminate the need for coal in steel production could be key to a net-zero emissions future for the metallics industry, attendees learned at Fastmarkets’ conference on January 17-19 in Dallas
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed