Italian rebar prices are ticking up moderately, by around €10/tonne ($11.89/t), compared with early January. Producers are seeking new increases to €320/t base ex-works, driven by rising scrap costs, Kallanish notes.
Market activity, however, remained subdued in January and consumption is still weak following some year-end restocking in December. In central Italy, prolonged heavy rainfall has slowed construction activity and steel deliveries, a construction company and an agent confirm.
Despite this, producers’ determination to raise prices remains strong amid high production costs, with some mills quoting at as high as €350/t base ex-works. These increases are meeting market resistance, as consumption does not support higher levels.
Nevertheless, contract prices last week edged up from around €280/t base ex-works in mid-January to €290-300/t base. One seller reports concluding a single truckload sale at €320/t; a truckload represents around 30 tonnes.
Mesh prices are also ticking up to €390-400/t base ex-works, plus approximately €300/t in extras. Including size extras of €260-270/t, effective rebar transaction prices are currently assessed at €550-570/t ex-works, sources suggest.
