Following a decline of nearly €30/tonne ($32.5/t) since February, Italian rebar transactions have now stabilised on a weekly basis. Demand has dropped notably amid weather disruption.
Two buyers in the Rome area indicate that adverse weather conditions are causing delays at several construction sites, which is in turn impacting their rebar purchases.
Last week, steelmakers announced price increases, but contracts have not yet reflected the hikes, Kallanish hears.
The current asking price among mills is set at €340/t base ex-works. Domestic rebar contracts are at €300-310/t ex-works. According to one agent, a number of buyers are still receiving material at around €300/t and are unwilling to pay the increases. Effective values are at €560-570/t ex-works on average, which includes an average of €260/t for size extras.
Domestic mesh contracts are also witnessing stability at €390-400/t depending on volumes. This does not account for transport costs or size extras, which are estimated at around €300/t, according to sources.
