Rebar prices still stable in Italian market

Tuesday, 06 October 2020 17:31:46 (GMT+3)   |   Brescia
       

Rebar demand is still modest in the Italian domestic market, where prices have remained at €405-415/mt ex-works in the past four weeks. However, local producers are still targeting higher levels, i.e., €420-425/mt ex-works.

Meanwhile, Italian producers' export offers have trended sideways in the past two weeks, at €410/mt FOB. Sources have reported that demand is not homogeneous abroad, while most customers are not happy to pay the current price level as "in the past they made long-term commitments because they were speculating on a downtrend," a manager at an Italian long steel producer explained.

Several market sources agreed that currently Italian rebar prices are supported by wire rod prices and not by the scrap market. Domestic drawing quality wire rod (SAE1006) prices are still strong in the Italian market. After increasing by more than €20/mt between late August and mid-September, wire rod prices have moved up further in the past few weeks and are now at €480/mt delivered. Sources explained that the uptrend is due to the lack of supply, "not only in Italy, but in all Europe".


Similar articles

Import longs offers in Romania now attractive, local prices stable

28 Mar | Longs and Billet

Turkey seeks to raise rebar export offers, demand mostly seen locally

27 Mar | Longs and Billet

Saudi Arabia’s Hadeed keeps local longs prices stable again for April

26 Mar | Longs and Billet

Iskenderun-based Turkish mill issues its longs prices

26 Mar | Longs and Billet

Local Chinese longs prices up $7-8/mt amid improved demand

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Lebanese rebar market quiet while import prices drop

22 Mar | Longs and Billet

Iskenderun-based Turkish mill cuts longs prices as week ends

22 Mar | Longs and Billet

Partial stability in southern European longs market, Easter closures expected

22 Mar | Longs and Billet

Romanian longs prices stable amid ongoing optimism for demand

21 Mar | Longs and Billet