Italian merchant bar prices are increasing again this week as scrap values in the country are set to climb further. Reduced production in the country due to the Russia-Ukraine war impact on raw material availability is contributing to pushing up prices.
Demand is reported to be strong for all long products in Italy as buyers are purchasing to replenish their stocks given the uncertainty in the market. Producers are asking this week for a further €50/tonne ($55/t), at €800-850/t base ex-works, after already increasing prices almost every week since the beginning of the month.
As demand is strong, contract prices are slowly following the increases. Domestic material is sold at €750-800/t base ex-works. Including size extras, values are at €1,170-1,220/t ex-works, sources confirm.
Paid prices for the first category of beams are also increasing significantly, with a base price of €1,050-1,080/t ex-works. Including €380-390/t average size extras, domestic beam contracts are hovering at €1,440-1,500/t ex-works, Kallanish notes.
Strong demand throughout the entire value chain is also reported for sections. Buyers are said to be in the process of restocking as some apparent demand is coming back to the market.
Natalia Capra France