Italian beam and merchant bar prices remain stable compared to the beginning of the month despite the declining values of rebar and scrap, Kallanish notes.
Demand in the country has slowed due to buyers adopting a wait-and-see attitude in light of the wave of price falls registered in recent weeks. Some buyers believe values for beams and merchant bars will decline but producers are holding their levels and do not intend to decrease. At present, apparent demand is lacking, but real demand remains lively, with large end-users’ order books well filled for the coming months.
Sections producers also have full order books, with good orders from end-users and some distributors, despite incursions of Spanish material offered at €20/tonne ($23) below domestic prices.
Market sources say merchant bar is still traded at August prices of €460-490/t base ex-works despite slower activity. Including €420/t average size extras, local merchant bar remains at €880-910/t ex-works, sources suggest.
Sections values also remain at high levels of €600/t base ex-works for the first category and €630-640/t ex-works from distributors. In Italy, including €380-390/t average size extras, the first category of beams is at €980-990/t ex-works. Prices increase by €20/t for each subsequent category, sources say.
Natalia Capra France
