Italian domestic rebar and wire rod prices continue to decline

Friday, 01 July 2022 17:05:10 (GMT+3)   |   Istanbul
       

Local rebar and wire rod prices have continued to decrease in Italy, reflecting poor end-user demand and slow business activity. In addition, trade has shrunk seasonally as the holiday period is coming, and so some mills are considering slowing down their production in the July-August period. Having dropped prices for longs, Italian mills have also decreased their scrap prices significantly this week.

Currently, Italian mills are offering rebar at €520-550/mt ex-works base or around €780-810/mt ex-works, taking into account the regular size extras. As a result, the offers have fallen by at least €110-115/mt over the past week and, according to some sources, might continue to fall.

In the wire rod segment, SAE1006 material is on offer at €870-900/mt delivered to northern Italy, down €130/mt over the same period. “There is literally no demand and buyers are relaxed, and so mills have to move and decrease their prices,” a local trader told SteelOrbis. Import offers for wire rod from Turkey have been reported at €680/mt CFR Italy, while offers from Algeria are at €700-720/mt CFR.


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Local Chinese longs prices up $7-8/mt amid improved demand

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Lebanese rebar market quiet while import prices drop

22 Mar | Longs and Billet

Iskenderun-based Turkish mill cuts longs prices as week ends

22 Mar | Longs and Billet

Partial stability in southern European longs market, Easter closures expected

22 Mar | Longs and Billet

Romanian longs prices stable amid ongoing optimism for demand

21 Mar | Longs and Billet