Rebar offers in Italy have increased by €30/tonne ($33.6/t) compared to the lowest levels registered in May, Kallanish learns from market sources.

Currently mills are offering at €120-130/t base ex-works, equating to a final price of €380-390/t ex-works. Buyers are still reluctant to accept these new prices as they are receiving deliveries of material purchased at €90/t base ex-works. The firm stance being taken by domestic mills nevertheless is set to secure at least a €10-20/t increase in transaction prices in the coming weeks.

The market is still suffering slightly due to delays in ontaining import licences from Algeria, but mills are successfully exporting to other countries in Europe. A source notes that there are more than 90,000 tonnes of oxidised material waiting at Italian ports, which mills and traders have prepared in case Algerian licences are granted.

July domestic rebar prices are set to remain stable at June’s levels, in line with scrap.

Meanwhile merchant bar prices are at steady at €455-465/t ex-works. The main Italian supplier has attempted to lift offers, but competition from other European producers is causing these efforts to be unsuccessful.