In Italy, market participants reported upward pressure on rebar prices, driven primarily by higher production costs rather than an improvement in underlying demand.
“Steel producers are pushing prices higher,” a distributor source told Fastmarkets. “However, the market remains depressed, with very weak demand.”
Market participants said truck driver strikes had disrupted deliveries to southern Italy, creating production bottlenecks and resulting in material shortages at some construction sites.
“The transport strikes and protests over the past few days have created considerable disruption in the South, particularly in terms of logistics, material availability and the ability to secure transport. This is adding another element of pressure to the market,” a buyer source told Fastmarkets.
In northern Italy, workable levels and deals were heard at €750-770 ($836-859) per tonne ex-works, while in southern Italy workable levels and transactions were reported at €760-790 per tonne ex-works.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy rose to €750-790 per tonne on October 28,up from €730-780 per tonne the previous week.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, was unchanged at €750 per tonne.
In Northern Europe, the latest workable levels were heard at €660-700 per tonne delivered.
Fastmarkets’ latest weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was therefore €660-700 per tonne on October 28, unchanged from the previous week.
European wire rod prices also remained stable during the assessment period.
Sources indicated workable levels for wire rod in Southern Europe at €670-680 per tonne delivered, unchanged from previous levels.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Southern Europe, was €670-680 per tonne, stable week on week.
In Northern Europe, wire rod workable levels were heard at €705-715 per tonne delivered.
Fastmarkets’ weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe, was therefore unchanged week on week at €705-715 per tonne on October 28.
Author: Nia Radenkova
