Italian rebar producers have finally been able to raise their prices in the domestic market. According to sources, Italian mills have succeeded in closing sales at prices around €590-600/mt in the past week, which is €20/mt higher on average compared to the transaction prices recorded two weeks ago.
Currently, producers are asking for prices between €590/mt and €610/mt ex-works, while they were aiming at €580-590/mt two weeks ago. "Soon we will target €620/mt ex-works," one producer told SteelOrbis, adding that demand is good and that "sales this month have increased by 20 percent year on year." The same source said, "Prices are higher regardless of scrap prices and they are aimed at protecting our stocks, which are low." For these reasons, only a few producers are offering rebar abroad for shipment by sea. Some sales were closed at €540/mt FOB in past weeks, while Italian exporters are now asking for €570/mt for May shipment.
As for the wire rod segment, drawing quality wire rod (SAE1006) prices are at €660-670/mt delivered in the domestic market, against €650-660/mt levels recorded one month ago. As in the case of rebar, Italian producers currently are mostly focused on their domestic market for wire rod sales. In the export market, they are not actively selling volumes by ship, while they have been selling wire rod by truck at €640/mt ex-works.