Some Italian rebar transactions have increased by €10/tonne ($11.7/t) compared to the beginning of the month. The market is considered to be “… stable but increasingly quiet,” Kallanish hears from agents and buyers.

The new base price is to €230/t ex-works, Kallanish hears. This week’s prices are holding for all long products despite the slow market. Scrap price forecasts remain uncertain this week but sources believe that November longs’ prices and scrap values will enjoy stability compared to October.

Demand is however “… deflated” compared to the beginning of October and buyers are tending to wait in order to assess the future development of national and international prices. The Italian steel market has been extremely slow in October with subdued buying activity due to price uncertainties.

Rebar is sold at between €220-230/t base with producers asking €240-250/t. Transactions are at €480-490/t ex-works including size extras, sources suggest.