SteelOrbis has learned that in the local Italian market domestic producers'
merchant bar base prices stand at €50-60/mt ($53-64/mt) ex-works, indicating a €10/mt decrease compared to last month amid the soft trend of domestic prices of scrap and other long steel products.
Meanwhile, demand in the local
merchant bar market is currently weak because most buyers are waiting for the current situation to gain clarity, also in terms of other long steel products such as rebar and wire rod. Nevertheless, market sources think that domestic
merchant bar prices may decrease further not only because of low demand, but also due to the fact that an Italian producer which uses import billet in its production might show greater aggressiveness in the coming period.
*In the Italian market, price extras can vary in the range of €410-610/mt ($435-647/mt) for domestic sales and in the range of €410-620/mt ($435-657/mt) for foreign markets, depending on dimension and product.
€1 = $1.06