Italian rebar prices are flattening week-on-week as the latest effort by local producers to implement an increase was not successful, market sources tell Kallanish.
Rebar makers were seeking €30-40/tonne ($32-42) increases ten days ago but the stagnating market and low consumption caused values to remain stable. The increases have had the effect of at least stopping the price decline. Producers are asking approximately €330/t base ex-works. Domestic values are still pegged at €290-300/t base ex-works. Including extras, rebar contracts remain at €550-560/t base ex-works. Domestic mesh is flat in contracts at about €380-390/t base ex-works. Buyers must add transport costs and around €300/t in size extras, sources suggest.
“Mesh is particularly difficult product to sell at the moment because stocks are extremely high,” a seller says.
On other long products such as beams, merchant bars and wire rod, producers are mulling increases starting next week, multiple source confim, at an average of €20/t. This follows ArcelorMittal’s move to raise all commodity grade long steel prices by €20/t across Europe this week, effective immediately for all new orders.
Several long mills will implement production stoppages in the final week of April for the two bank holidays of 25 April and 1 May, balancing demand and supply. A longs distributor says he continues to adopt a wait-and-see attitude and refuses to buy at rising values.
Natalia Capra France