Italian rebar prices edge down amid subdued demand
Italian rebar prices are beginning to decrease, with some contracts losing around €20/tonne ($23.1/t) compared to late May, despite mills again raising prices in June by the same amount.
“The market is unable to absorb any more increases. We are working, although this month is calmer than May, but we’re relying on the national post-pandemic recovery fund projects, which should end this year unless the Italian government invests in infrastructure. According to the budget for next year there’s not much infrastructure spending,” a construction company tells Kallanish.
This week the level of €460/t base ex-works seen at the beginning of this month is no longer achieved in recent contracts. Large-volume orders remain absent at current price levels, and mill shipments have also fallen significantly recently. The midpoint for transactions this week is €440/t base ex-works, sources suggest.
Demand remains very subdued, and the market appears to be in a wait-and-see mode, two distributors tell Kallanish.
Including size extras of €260-270/t, effective transaction prices for Italian rebar are assessed at €700-710/t ex-works.
From: Kallanish
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