Steel rebar prices in Italy moved up in the week to Wednesday July 16 due to higher energy costs and healthy demand.
One market source said that the effects of the summer holiday season were “starting to be felt,” with imminent mill closures leading to increased demand on expectations of tightened supply.
Market participants also said that higher energy costs were supporting the upward moves in prices.
Deals have been reported at €530-570 ($614-661) per tonne in the past seven days.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, was €520-570 ($603-661) per tonne on July 16, a rise of €10-20 per tonne from €510-550 per tonne a week earlier.
