After six months of uninterrupted increase, rebar in the Italian domestic market is finally reacquainting itself with a downward price trend. According to the base reference prices for long products released on July 7 by Brescia Chamber of Commerce, rebar base prices in the local Italian market have fallen by €20/mt ($31/mt) over the past three weeks to a range of €610-620/mt ($960-975/mt).
Apart from rebar, several other long products have also registered declining trends in base prices over the last three weeks. Mesh quality wire rod has fallen by €10/mt ($16/mt) to €810-820/mt ($1,273-1,289/mt); welded mesh dropped €20/mt ($31/mt) off the lower end of its price range and €10/mt ($16/mt) off the upper end, decreasing to a range of €630-650/mt ($990-1,022/mt); and cold drawn bar lost €30/mt ($47/mt) off the lower end of its price range and €50/mt ($79/mt) off the upper end, giving a new price range of €720-750/mt ($1,132-1,179/mt).
Meanwhile, base prices of merchant bar remained stable over the past three weeks in a range of €600-620/mt ($943-975/mt). Also stable was drawing quality wire rod which stayed at €830-850/mt ($1,303-1,334/mt). On the other hand, beams registered an increase of €20/mt ($31/mt) over the past three weeks, rising to a range of €700-720/mt ($1,100-1,132/mt).