Italian long steel demand continues to drag as weak consumption is deteriorating further. Sellers are reporting low-tonnage sales and there are no expectations for restocking this month. Weakening on-month prices are impacting margins throughout the value chain, Kallanish notes.
Merchant bar sales are being concluded for very low volumes each week. Italian domestic merchant bar prices are hovering at €300-310/tonne ($326-337) base delivered, a €10/t decline compared to last month. Including size extras, prices are at €720-730/t, sources suggest. Domestic sales are however being challenged by imported material offered from other EU countries at about €270-280/t delivered.
Italian rebar values are also declining to €300-310/t base ex-works, or €560-570/t including size extras, affected by low consumption, while the first category of beams stands at €770-780/t ex-works, mostly stable on-week. Sellers also report weak demand for beams with no forecasts of improvement this month. Cheaper sections offers from other EU countries are also dragging down domestic prices, sources say.
Natalia Capra France
