Italian rebar buyers expect the current period of quiet to last until mid-January. Many of them are adopting a wait-and-see attitude and tell Kallanish they can hold out without purchasing for another couple of weeks.
The Italian rebar market remains inactive this week as activity will restart following winter holidays on 8 January. Contract values increased in December in line with higher asking prices.
Before shutting down for the Christmas break, local steelmakers were asking for between €380-400/tonne ($416-438) base ex-works. Relatively small rebar volumes were sold at €360-380/t base ex-works. Including extras, domestic rebar was fetching €620-640/t base ex-works.
Confidence in present and future activity increased in December in the Italian construction sector, according to a report by national statistics institute Istat.
General consumer confidence regarding the current and future economic landscape also increased last month. An improved sentiment has been registered in all sectors of the industry, except for manufacturing where the association points to a continued negative outlook and expectations of deteriorating production levels in 2024.
Istat says November prices in the construction sector remained flat for both residential and non-residential buildings.
Natalia Capra France