Deals and workable levels in northern Italy were heard at €730-760 ($820-853) per tonne ex-works, with one source expecting prices to reach €770 per tonne ex-works due to higher energy costs. This higher level, however, was not supported by transactional activity.
“There are attempts to move the Northern market towards €770/t, mainly supported by higher energy and production costs, but as far as I am aware there have not yet been significant transactions concluded at that level,” a buyer source told Fastmarkets.
“Ever-rising energy and transport costs are pushing a trend towards further increases for November,” a seller source told Fastmarkets.
“Producers’ intention is to go on in uptrend, because high energy and fuel costs keep pressure strong, but customers don’t have the same sentiment,” a trader source told Fastmarkets.
Demand, however, remained weak, limiting producers’ ability to achieve higher prices.
“Demand is currently very low and pretty much everyone is just relying on existing inventory and stocks,” another buyer source told Fastmarkets.
Meanwhile, in southern Italy, the latest deals and offers were reported at €750-780 per tonne ex-works during the week. Higher offers were also heard at €790-800 per tonne ex-works, but no transactions were reported at those levels.
Market participants said truck driver strikes were making transportation to southern Italy more difficult.
“In the South, recent protests and transport strikes linked to high fuel and energy costs, as well as the broader increase in the cost of living, have also caused significant disruption on the roads, with deliveries slowing considerably over the past few days,” a buyer source told Fastmarkets.
As a result, Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was stable week on week at €730-780 per tonne on October 21.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Spain, remained unchanged at €750 per tonne on October 21.
In Northern Europe, the latest deals and offers were heard at €680-700 per tonne delivered, while market participants reported workable levels at €660-680 per tonne delivered.
One producer source also reported limited material availability in Germany.
Fastmarkets’ latest weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was therefore €660-700 per tonne on October 21, widening upward from €660-690 per tonne the previous week.
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 on Wednesday, stable week on week.
In Northern Europe, wire rod was indicated at €705-715 per tonne delivered, also stable compared with previous prices heard in the market.
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 21.
European beams and sections
The latest deals and offers for domestic beams in Northern and Southern Europe were heard at €850-860 per tonne delivered, with workable levels reported by market participants at €840-860 per tonne delivered.
As a result, Fastmarkets’ monthly assessment for steel beams, domestic, delivered Northern Europe, narrowed upward to €840-860 per tonne, from €810-860 per tonne the previous month.
Workable levels for steel sections were reported at €850-870 per tonne delivered in both Northern and Southern Europe.
Fastmarkets’ monthly assessment for steel sections (medium), domestic, delivered Southern Europe, therefore narrowed upward to €850-870 per tonne, from €800-870 per tonne the previous month.
Author: Nia Radenkova
