Italian rebar producers have been encouraging buyers to complete contracted deliveries by end-October in anticipation of fresh price increases for November orders. According to industry sources, the increase will amount to €30-40/tonne ($32.62-43.49) over current prices.
Buyers and sellers confirm to Kallanish that until business close on Thursday, prior to Friday’s public holiday, all steelmakers were quoting at €270-285/t base ex-works. Customer activity is slow, with only back-to-back purchases occurring. New prices are projected to range between €300-310/t base ex-works in November, depending on producer.
Contract values have been mostly stable in recent weeks. Domestic market transactions took place at €270-280/t base ex-works. Including size extras at an average cost of €260/t, effective prices are hovering at around €530-540/t ex-works. Domestic mesh is pegged at around €380/t, excluding transport costs and €300/t size extras, sources suggest.
A number of producers are executing stoppages, some involving temporary layoffs. Some mills are implementing longer production halts for the 1 November bank holiday.
Multiple sources indicate that Egyptian rebar vessels are currently available in Sicily, with product priced at €530/t ex-vessel for orders up to 1,000 tonnes. A trader says that an Egyptian rebar seller needed to enhance sales volumes and increased exports to neighbouring countries, including southern Italy. One mill source claims the Egyptian material exemplifies dumping and will be reported to the relevant authorities.
Natalia Capra France
