Italian domestic rebar prices narrowed upward in the week to Wednesday September 17 amid rising production costs and a modest improvement in speculative demand, as producers continued to push for higher prices.
“Energy and fuel prices continue to move higher, particularly considering the current global macroeconomic and geopolitical situation, and this is adding further pressure on production and logistics costs,” a buyer source told Fastmarkets.
Market participants noted a slight improvement in speculative demand across Europe compared with the end of August and the first days of September, although not enough to support significant price increases sought by producers.
“The Italian rebar market, however, remains relatively slow, with demand still not strong enough to fully support a significant price increase,” the source told Fastmarkets.
In northern Italy, tradable levels were heard at €700-730 ($808-842) per tonne ex-works, while transactions in southern Italy were heard at €730-750 per tonne ex-works. Higher offers of €760-770 per tonne ex-works were also heard, although those levels were not supported by transactional activity.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €700-750 per tonne on September 17, narrowed upward from €690-750 per tonne the previous week.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, remained unchanged at €750 per tonne.
Meanwhile, German domestic rebar prices edged higher, with tradable levels heard at €715-720 per tonne delivered.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was €715-730 per tonne on September 17, narrowed upward from €710-730 per tonne the previous week.
Wire rod prices remained largely stable during the assessment week, with weak demand and low liquidity continuing to constrain market activity.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe, was unchanged at €660-680 per tonne on September 17.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, was unchanged at €690-715 per tonne on the same day.
European sections and beams
European domestic section prices remained stable month on month.
Fastmarkets’ monthly assessment for steel sections (medium), domestic, delivered Southern Europe, was €800-870 per tonne, unchanged month on month.
Domestic beam prices increased month on month, with tradable levels heard at €810-860 per tonne delivered across Europe.
Fastmarkets’ monthly assessment for steel beams, domestic, delivered Northern Europe, was €810-860 per tonne, up from €780-820 per tonne the previous month.
