Steel rebar producers in Italy were heard to be looking for higher prices in the week to Wednesday July 9, amid increased energy costs and improved demand, Fastmarkets understands.
Fresh offers from mills in the north of the country were heard in the range of €260-275 ($304-322) per tonne ex-works base price versus €240-250 per tonne last week, which would correlate to an effective price range for 8-16mm bars estimated by Fastmarkets at €530-545 per tonne.
A trading source and a mill source said that recent deals were agreed at €240-250 per tonne base price, which would net to €510-520 per tonne ex-works.
“[The mills] are still delivering old orders at lower prices of €240-250 per tonne [ex-works base], but the trend is now up ward. Maybe they will try a new increase before the summer holidays,” the trader said.
“Demand is good these days. Customers know that in July prices usually rise and remain high into September,” he added.
In the south of Italy, mills were reported to increase offers to €290 per tonne ex-works from a minimum of €270 per tonne ex-works base a week earlier. That would result in an effective price of €560 per tonne ex-works, but no major tonnages were heard sold at this higher level.
Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Italy, remained at €510-550 per tonne on July 9.
