European Steel Producers Raise Long Product Prices Amid Scrap Cost Rebound

• Most European steel producers have increased their offers for long steel products this week, anticipating improved demand after the Easter holiday period.
• The price hikes are also supported by a rebound in scrap costs, a key raw material for steel production.

Italy

• Rebar sales prices in Italy remained at €560-570/t ex-works, including extras for sizes.
• However, mills have announced offers as high as €600/t ex-works, citing the rise in scrap prices.
• Buyers remain skeptical about the price increases, as mills still need to fill their April order books and do not expect substantial increases in consumption.

Nearby Markets

• In nearby markets, rebar was quoted at €570-580/t free carrier late last week, when some Italian mills were eager for new sales.
• In Poland, the tradeable value for rebar was reported at €615-620/t delivered this week, up from slightly below this level in late March.
• Offers for Polish rebar stood at €625-630/t delivered to domestic buyers, while in nearby markets prices were pegged at €625-640/t delivered.

Germany and Spain

• In Germany, prices for small-to-medium purchases of rebar remained at €630-640/t delivered.
• Spanish rebar was still quoted at €615/t cost and freight to northwest Europe, with small discounts deemed available.

Balkans

• In the Balkan region, Bulgarian rebar prices settled at 1,190-1,210 lev/t (€608-619/t) delivered late last week.
• In Romania, rebar was available at €630-640/t delivered.

Overseas Competition

• Some customers showed more interest in overseas offers in late March, with rebar mainly booked from Turkey at $585-590/t free on board (FOB), which would be below €600/t delivered in any region.
• Egyptian rebar was quoted at $580-590/t FOB, but was available for later shipment.

Wire Rod

• Trade restrictions supported stronger prices for wire rod in Europe, with mills announcing up to €20/t price increases.
• New offers for drawing-quality material in the Italian market were indicated at €650/t delivered.
• In other markets, mills pushed up offers from €660/t delivered to up to €680/t delivered for drawing-quality wire rod.
• Mesh-quality wire rod in Germany and other nearby markets was available at €620-630/t delivered.