Rebar prices in the Italian domestic market rose in the week to Wednesday, September 3, after deals with used products were concluded in southern Italy and offers from some factories decreased.
Prices are traditionally higher in the southern region of the country, so transactions at the level of €610-620 ($711-722) per ton from a factory in this region pushed the Fastmarkets price range to increase.
As a result, Fastmarkets' weekly price estimate for steel rebar for domestic consumption (exw) in Italy increased in September to €560-620 per tonne from plant 3, from €570-600 per tonne on August 27.
There were mixed estimates on the market during the price session: some sources expressed optimistic forecasts for this month and October, but most said they were in a "wait-and-see" mode due to lower oil prices. lack of clarity in the price direction.
One customer said that he uses his warehouse "to the fullest" and buys only to fill gaps, not to build inventory.
"We're buying materials that we don't have enough of until we understand how the market is moving," the source said. "There is a lot of work here in Italy, so demand is high against a background of insufficient supply."
But other sources give the opposite, bearish assessment: low demand is putting downward pressure on prices.
"We had a good last week in August, but the beginning of September was very calm, and I think buyers are on standby to see if they[sense]the start of a downtrend," the trader said.
In Spain, prices remained stable.
Fastmarkets price estimate the price of rebar steel rods supplied to Spain on the domestic market as of September 3 was 640-645 euros per ton, unchanged from week to week.
In Northern Europe, prices were under slight downward pressure.
Fastmarkets weekly price estimate for rebar steel rods, on September 3, shipments to Northern Europe cost 630-640 euros per ton, down 5 euros per ton from 635-640 euros per ton on August 27.
It was reported that materials were booked at these levels.
Holly Chant
Fastmarkets.com
