Rebar prices have increased further in the Italian market in the past week, reaching €750-760/mt ex-works, supported by good demand, low supply and rising local scrap prices. This means Italian rebar producers have finally been able to reach the price level of €500/mt ex-works net of size extras. Earlier this month, domestic rebar prices amounted to €740-750/mt ex-works. One Italian producer underlined that rebar demand is good in the rest of Europe, where Italian mills have been selling good volumes at prices in line with their domestic offers. Meanwhile, no export sales by ship have been recorded recently. . "If possible, we do not prefer selling by ship as they are only a second option," the same source said.
Wire rod prices have been increasing during the past month for the same reasons. According to sources, drawing quality wire rod prices in Italy are now in the range of €820-850/mt delivered, up €50/mt on average compared to early June. One trader commented that Italian producers have been aiming at slightly higher levels, but buyers have been resisting further increases recently. Due to the strong price increases in the past few months, many end-users are in a difficult financial situation as they are experiencing problems opening new credit lines.