After hitting the record base price of €560/mt (€820/mt ex-works for 14-26 mm material) last week, rebar prices have increased slightly further in the Italian domestic market, to €560-570/mt (€820-830/mt). Except for this, the situation has remained largely unchanged. Most buyers are on a wait-and-see mode, said a local trader, adding that "everyone is waiting for possible price decreases." This is due to the fact that many projects in the country, especially smallest ones, haven't started yet, or have slowed down due to both high prices or Covid-related issues. At the same time, though, producers are considering further increases due to higher production costs.
Meanwhile, as in recent weeks, Italian rebar producers have been largely inactive in the segment of exports by sea, with offers at €750/mt FOB. As before, foreign buyers are not ready to accept such a price yet.
As for wire rod, Italian producers are offering drawing quality material (SAE1006) in the domestic market at €850-880/mt delivered, up €15/mt compared to the level reported last week. In the export market, the same producers are offering wire rod at €885-895/mt delivered, especially to Poland. This price level is up €15-20/mt compared to one month ago, sources told SteelOrbis.