Rebar prices in Italy continued to rise during the week until Wednesday, July 30, as buyers try to purchase as much material as possible before scheduled maintenance of the plants, which will begin next week, Fastmarkets sources said.
"The market is currently very active, mainly due to the upcoming summer holidays, and construction sites are rushing to stock up on materials," a source from cut and bend told Fastmarkets.
"Each manufacturer has very low stocks, so customers are looking for materials before the summer closure. The price doesn't matter," the trader said.
The trader mentioned recent deals in the northern region of Italy, which were concluded in the range of 550-560 euros (629-640 dollars) per ton from the factory, compared with 530-550 euros per ton from the factory a week earlier.
A second source at cut and bend confirmed that during the reporting week, deals were concluded in the north of Italy at a price of about 560 euros per ton from the plant, while in the south the acceptable price was about 580 euros per ton from the plant.
Meanwhile, a source in the manufacturing sector estimated generally reasonable prices in the range of 550-580 euros per ton from the factory.
New offers for bars were received at a price of 580-590 euros per ton from the plant in the northern region and at a price of 590-600 euros in the southern region.
The weekly price estimate for reinforcing steel from Fastmarkets. bars (rebar) of domestic production exported to Italy cost 550-590 euros per ton on Wednesday, compared with 530-570 euros per ton on July 23.
Vlada Novokreschenova
Fastmarkets.com
