According to local sources, the Italian domestic merchant bar market is permeated with uncertainty. This situation is exacerbated by the calm and the stillness of prices in the local scrap market. Merchant bar demand is still weak as it was in the period before the summer holidays, while local producers don't have big order books. On the bright side, sources say that local traders do not have a lot of supplies and therefore they will not be able to continue destocking for a long time.
Currently in the Italian market the leading producer is offering merchant bars at €35-45/mt ($39-50/mt) ex-works, compared to €50/mt ($56/mt) recorded in the middle of July, while other producers are offering the same products at lower prices.
A similar situation is reported for the export market, where buyers are extremely cautious and prices stand at an average level of €35-45/mt ($39-50/mt) delivered to customer.
*In the Italian market, price extras can vary in the range of €410-610/mt ($459-683/mt) for domestic sales and in the range of €410-620/mt ($459694/mt) for foreign markets, depending on dimension and product.
€1 =$1.12