Rebar prices in Italy continued upward trajectory in the week to Wednesday, July 23 supported by favorable demand situation and rather limited availability of material from suppliers ahead of scheduled maintenances.
In the northern region of the country, where the majority of the mills are located, fresh offers for B450C bars varied within the range of €550-560 ($646-658) per tonne ex-works, with bookings reported within the range of €530-550 per tonne ex-works.
In the southern region of Italy, the material was available within the range of €570-590 per tonne ex-works, with business reported done closer to the lower end of the range.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €530-570 per tonne on July 23 narrowing upward from €520-570 per tonne on July 16.
After the assessment was filed, information came to light about bookings in the south of Italy at €575-580 per tonne ex-works, but it could not be widely confirmed by the time of the story publication.
Additionally, a trader in the north indicated that mills in the region may increase their prices further before summer production halts due to favorable supply-demand conditions.
“Producers have low stocks and customers want to fill their warehouses before the closure. Demand is very good these days, which is typical in the second half of July,” the trader said.
