Italian rebar prices are rising slightly again week-on-week, Kallanish learns from market sources in the country.

Last week, producers increased their asking prices to €260-265/tonne ($293.3-298.9/t) base ex-works in line with increasing domestic demand. Transaction prices have also risen by €5/t again this week and have reached €230-240/t base, trading sources confirm. Last week the high point of the range was €235/t. Transaction prices are now at €490-500/t ex-works including extras. Demand for rebar remains patchy.

Prices for some long products such as merchant bars are also moving slightly upwards in the domestic market from the very low levels seen in November. Beams and wire rod prices meanwhile remain stable in an uncertain market. Scrap contracts are being negotiated for December and merchant say that demand from mills has improved compared to the beginning of the month. Sentiment remains generally subdued however, Kallanish hears.