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Kallanish Kallanish

Knowledge matters Knowledge matters

December, 19th 2018

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JAN 11
10:20

Italian rebar prices rise

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Italian rebar prices are increasing by €20/tonne ($23.8/t) month-on-month, according to market sources heard by Kallanish this week. This is due to high export sales, some demand recovery when the market resumed activity this week after the holiday break and, above all, surging domestic scrap prices.

Italy is seeing another scrap hike across all categories as are other European countries. This may well position the price of the higher grade new arisings (E8) above the level of €330/t delivered this week. Domestic rebar prices have gradually increased over those seen during the fourth quarter of 2017.

Producers were already asking €240/t base ex-works in December although transactions remained at €220/t delivered. Since Monday of this week however, sales executives have gathered orders at €230-240/t base ex-works while producers are beginning to increase their asking prices.

Most mills are now asking €250/t base ex-works, but some more cautious producers are maintaining prices at the €240/t level this week. With the current high scrap prices, more increases are expected next week from producers. Including size extras, the majority of transactions are hovering at a level of €500/t ex-works, sources suggest.