The prices of long products in the Italian domestic market have soared over the past two weeks, as is evident from the strong increases in the base reference prices for longs issued by the Brescia Chamber of Commerce price commission on January 21.
The fastest climber over the past two weeks in the Italian domestic longs market has been drawing quality wire rod, which added €50/mt ($72/mt) and €55/mt ($79/mt) respectively onto the lower and upper ends of its base price range, rising to €515-525/mt ($746-761/mt). Mesh quality wire rod, meanwhile, rose by €50/mt ($72/mt) to €500-510/mt ($724-739/mt. Other strong climbers were cold drawn bar which rose to €450-470/mt ($652-681/mt), adding €50/mt ($72/mt) to the lower end of its range and €40/mt ($58/mt) to the upper end, and also rebar which climbed by €45/mt ($65/mt) to the range of €295-305/mt ($427-442/mt).
The highest riser of the previous fortnight, electro-welded mesh, again saw its base reference price increase by another €40/mt ($58/mt) during the past two weeks, reaching the range of €320-330/mt ($463-478/mt). Merchant bars, on the other hand, added €30/mt ($43/mt) to their minimum level and €40/mt ($58/mt) to their maximum level, rising to €320-340/mt ($463-492/mt) for 10-59 mm sizes and to €350-370/mt ($507-536/mt) for 60-150 mm sizes.
IPN (80-220 mm), UPN (80-220 mm) and HE (100-180 mm) beams registered just a €5/mt ($7/mt) rise in their base reference prices, moving up to a price range of €450-460/mt ($652-666/mt). UPN (80-120 mm) beams, however, added €30/mt ($43/mt) to their upper level and €40/mt ($58/mt) to their lower level, climbing to €350-370/mt ($507-536/mt).