Italian merchant bar maker Beltrame is raising its offers in all European countries by €30/tonne ($32) effective this week, a source close to the company confirms to Kallanish.
The steelmaker is said to have enough orders until the end of the year from European countries and sees some demand dynamism across the continent.
The increases are in line with high processing costs, including the shortages of and price hikes for scrap, whose prices are forecast to continue to increase in December.
Merchant bar stocks throughout Europe are medium-low and customers are in need of purchasing for year-end delivery, for book-keeping reasons.
With scrap forecast to continue to increase, the steelmaker is considering a second step of hikes for merchant bar for January delivery, Kallanish notes.
Natalia Capra France