While merchant bar prices remain stable in Italy compared to the previous week, demand was particularly low last week, distributors tell Kallanish, describing the market of the past ten days.
Contract prices have increased in transactions month-on-month by €20/tonne ($22/t) on average in line with costlier scrap. Merchant bar is being sold at €70-80/t base ex-works or €90-95/t delivered in the north of the country. Including an average €420/t for extras, transaction prices for domestic material are at €490-500/t ex-works, sources say. However, large buyers and purchasing groups are buying cheaper material from other European countries.
Domestic merchant bar prices are seen decreasing slightly in February due to lower demand and, consequently, orders. Scrap prices in Italy are also seen declining in February, Kallanish hears.
