Italian rebar prices are falling further in this week’s contracts, by €20/tonne ($21.3) on average compared to last week, due to the continued standoff in the Italian steel market.
Most producers are now asking for €810-820/tonne base ex-works, down from €850-860/t ten days ago. Buyers tell Kallanish they are purchasing small volumes at €800-820/t base ex-works this week.
Producers continue to sell some volumes on the export market, particularly in Eastern Europe, but the European construction sector is reported to be slowing. Traditional Italian rebar sellers to France and Germany are not exporting much these days as demand from these countries is also very weak. A European producer says it only has orders for the next ten days amid low visibility.
Italian distributors continue to purchase back-to-back and forecast values to go below the €800/t level in Italy in the coming days. Including size extras, domestic rebar prices are now at €1,060-1,080/t ex-works, sources suggest.
Natalia Capra France
