Italian longs producers will avoid hiking prices in September due to low demand and lack of payments from clients, industry sources tell Kallanish.

“While historically in September longs prices have always surged, this year, with such a negative steel outlook in the country and internationally, any price increase attempt would not hold for even a week,” a source comments.

“Everybody has a dire need to sell, and this year mills’ summer stoppages have not been long,” another source observes. “The problem is that it’s uncertain that even current levels [of quotations] will hold.” Tube prices are already sliding, he adds.

Merchant bar quotations are expected to fall in September, while beams prices should hold their ground next month – notwithstanding a few euros decline – thanks partly to a lack of supply from bankrupt beams maker Stefana.

Italian base merchant bar prices are currently pegged at €480/tonne ($550/t) ex-works. For August, category 1 beams are being sold in Italy at €500/t ($574/t) ex-works – this increases by €20/t for each subsequent category, sources reveal.