Italian long products demand has weakened this week, with scrap prices falling and rebar values down €30/tonne ($35) in recent days, market participants tell Kallanish.
Rebar has hit the level of €300-320/t base ex-works in the majority of transactions, or €560-580/t including size extras. Other long product prices are however holding for the moment, even though the high point of the January price range is not being paid.
Merchant bar quotes remain at €240-250/t base ex-works. Very few contracts have been signed at €260/t base ex-works. Including size extras, domestic material is at €660-680/t base ex-works.
Meanwhile, the first category of domestic sections remains at €325-340/t base ex-works, with a few high points at €360/t base ex-works. This represents effective prices of €710-725/t and €745/t. Prices increase by €20/t for each subsequent category, sources say.