Italian rebar producers attempt new price increase

Tuesday, 07 July 2020 16:53:14 (GMT+3)   |   Brescia
       

Italian rebar producers have been trying to increase domestic prices further since the start of this week. As expected last week, local producers, after getting orders at €380-385/mt ex-works, decided to raise their offers to €400-410/mt ex-works for July production.

As mentioned before, the Italian rebar market is experiencing a more positive period compared to the local markets for other steel products, such as flat steel, thanks to the better resistance of the local construction sector compared to other sectors. This, together with the good volumes collected in the export markets in June, is the reason behind the push for price increases, according to local sources. However, there is no certainty about the success of the recent move. "It seems to me a legitimate attempt to prevent price decreases, but demand is not so strong," said one source. Others believe that prices could rise at least slightly, supported by the need of several buyers to replenish their stocks. The situation should be clearer in the coming few days.


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