Rebar prices in Italy continued strengthening in the week to Wednesday July 30, because customers are trying to buy as much material as possible before mills’ scheduled maintenances starting next week, sources have told Fastmarkets.
“The market is currently very active, largely due to the upcoming summer break, and construction sites are rushing to stock up on materials,” a cut and bend source told Fastmarkets.
“Each producer has very low stocks, so customers are looking for materials before the summer closures. The price doesn’t matter,” a trader said.
The trader mentioned recent deals in the northern region of Italy being done with the range of €550-560 ($629-640) per tonne ex-works compared with €530-550 per tonne ex-works a week earlier.
A second cut and bend source confirmed that deals in the north of Italy were concluded at around €560 per tonne ex-works in the reported week, while in the south the workable price was around €580 per tonne ex-works.
Meanwhile, a producer source estimated overall workable levels within the range of €550-580 per tonne ex-works.
New offers for bars came in at €580-590 per tonne ex-works in the northern region and at €590-600 in the southern region.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €550-590 per tonne on Wednesday, up from €530-570 per tonne on July 23.
