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September, 24th 2017

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JUL 14
07:07

Scrap, increased orders support Italian longs rise

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Italian long product prices are increasing in line with the latest scrap hikes. Producers have registered an increase in orders especially for rebar and merchant bars over the past week, Kallanish learns from market sources.

Transaction prices for rebar increased last week by €20/tonne ($22.8/t) on-week. Quotations are now between €140/t and €150/t base. Including €260/t size extras, this gives a finished ex-works price of €400-410/t ($456-468/t), up from the low point seen at the end of June of €360-370/t ex-works.

Domestic merchant bar has also ticked up week-on-week as producers are asking for a month-on-month €10-15/t rise. From a level of €40-45/t base delivered, transaction prices gained €10/t last week reaching €50-60/t base ex-works. This including €420/t size extras gives an average transaction price of €470-480/t ex-works, sources suggest.