Italian long steel producers are fully booked, which is why they are not giving any offers at the moment, SteelOrbis has learned. According to market sources, their latest export sales were transacted about a month ago at prices around €380-400/mt FOB for rebar and at €440-445/mt FOB for wire rod. One Italian producer told SteelOrbis that it is refusing bids at €410-415/mt FOB for rebar due to lack of material. The same source thinks all Italian producers will not start accepting orders until early January. If these price levels were accepted, "it would be enough for us", said the producer.
As for the Italian domestic market, both rebar and wire rod prices have increased slightly in the past week. Rebar prices have risen from an average level of €430/mt ex-works to €430-440/mt ex-works. The reason why producers are asking slightly higher levels is that they have low supplies while raw material prices have been increasing. However, local demand is weak, especially due to bad weather conditions including heavy rainfalls. The same situation applies to the domestic wire rod market, with drawing quality material being offered at €440-450/mt delivered northern Italy, up €5/mt compared to last week.