Italian beams and merchant bar remain stable despite the declining values of rebar, scrap, and coils in the country, Kallanish notes.
Market sources say merchant bar is still traded at August prices of €460-490/tonne ($544-580) base ex-works. Large buyers are however waiting for prices to fall and have put off their purchases. Demand is said to be unreliable as buyers believe domestic material will lose €15-20/t this month. Including €420/t average size extras, local merchant bar remains at €880-910/t ex-works, sources suggest.
Section values also remain at high levels of €600/t base ex-works for the first category and €630-640/t ex-works from distributors. After the August holiday, demand has resumed significantly in September. Domestic steelmakers have full order books and are struggling to satisfy all clients’ orders. The same situation is registered for Spanish producers. Scrap price falls have not impacted domestic levels in the two countries.
In Italy, including €380-390/t average size extras, the first category of beams is at €980-990/t ex-works. Prices increase by €20/t for each subsequent category, sources say.
Natalia Capra France