Italian rebar flattens

Italian rebar prices are stable on-week after ticking up by some €30/tonne ($32) this month compared to the low point of the range seen in October. This follows the hike attempt by local steelmakers, who pushed November asking prices to €320-350/t base ex-works depending on mill, sources tell Kallanish.

Transaction prices are flat at €300-310/t base ex-works. Including extras, domestic rebar is fetching €560-570/t base ex-works. Domestic mesh is meanwhile being sold at about €400/t, to which buyers must add transport and around €300/t size extras. However, for rebar, prices should reach €320/t base ex-works in the coming days, sources observe.

Persistent bad weather conditions in central Italy are causing building works and deliveries to be delayed, with no change from last week. A distributor says he has enough business until the first quarter next year. Several distributors are waiting for large infrastructure projects that should be financed by the European recovery fund to start in 2024.

“Many service centres are discounting material to sell. We had a good beginning of the year which is going to save our financial results, but the second half has been extremely quiet. We are keeping our stocks low. We have several clients who are idling their production plants,” a source comments.

Natalia Capra France