According to sources, rebar producers are still offering material at €570-580/mt ex-works in the Italian domestic market. However, orders so far have been placed at prices of €560/mt and lower, one manager from a local producer told SteelOrbis. However, the same source said that sales volumes have been good. "We raised our prices in order to accelerate the fulfillment of those orders that were acquired at lower prices," the manager explained. "Our clients and their clients don't like this market, so €570-580/mt is still a virtual price. For now, customers will keep buying to meet their urgent needs," he added. According to other sources, rebar producers aim to increase their prices further in the coming period, considering that scrap prices have remained solid in the domestic market.
As for the export market, Italian producers have sold small volumes in the past weeks. For sales by truck, prices are around €560-580/mt ex-works, while for sales by ship, prices are around €530-540/mt FOB. "The price level for sales by ship is not competitive for us, but it cannot be much different from that level since Turkish suppliers are in the market with similar prices," one producer commented, adding that in this situation they are selling "the minimum necessary".
Meanwhile, wire rod prices have remained relatively strong in the past month. Domestically, drawing quality wire rod (SAE1006) is at €650-660/mt delivered, against the €640-670/mt level recorded one month ago. One local producer told SteelOrbis that their aim is to increase these prices by €20/mt in the short term, as demand is good and supply remains very limited in the European market.