Italian heavy sections producers are back following the Christmas holiday break, quoting at over €100/tonne ($121) more than last month, market participants tell Kallanish.
Sections prices increased more slowly in December compared to the price rally of other long products such as rebar and merchant bar.
The first category of beams has gone up in transactions to €200-250/t base e-works. Including €385/t size extras, end-of-December contracts were at €585-635/t ex-works or delivered, depending on point of delivery and tonnage purchased. Prices increase by €20/t for each subsequent category, sources say.
Starting this week, producers are asking for €340/t base ex-works for the first category of beams. Distributors are selling at €360/t base ex-works. Contracts this week are also at €340-450/t base ex-works, or €725-735/t ex-works including size extras, but for small quantities, sources say.
Scrap prices in Italy have increased this month by €100/t on-month, in line with French and German hikes (see Kallanish 13 January). However, scrap price increases are losing momentum and values are forecast to soon decrease significantly, Kallanish hears.