Prices for Italian rebar continue to rise, despite recent attempts by steel manufacturers to raise them by about 30 euros per ton (US$35 per ton) compared with the beginning of October.
The increase is aimed at restoring profitability and stopping the observed decline in prices in recent weeks, Callanish receives information from market sources.
Buyers, however, either take a wait-and-see attitude or continue to limit purchases to small batches of trucks. One distributor says he is willing to pay a little more than in the previous contract, but remains cautious, noting that manufacturers are "asking too much, given the current low consumption," while they struggle to cope with any price increases in the secondary market.
The steelmakers are asking for 260-270 euros per ton from the base plant. The buyers insist that they settle for 240 euros per ton. Numerous sources report that they are still receiving supplies that they purchased in the past weeks at a price of 230-240 euros per ton from the factory, and therefore they do not need urgent orders.
While most buyers are taking a wait-and-see attitude, recent deals with very low-tonnage shipments have led to higher prices. It was reported that the price is about 250 euros per ton. Some additional sales at a slightly higher level are expected this week.
Meanwhile, the decline in scrap metal prices observed in October in Italy seems to have stopped, and prices are now stabilizing.
The cost of contracts for the supply of fittings in the domestic market is currently estimated at 240-250 euros per ton from the plant. Taking into account the additional dimensions of 260-270 euros per ton, the actual prices are in the range of 510-520 euros per ton in stock. Grid prices, meanwhile, also average 250 euros per ton, excluding an additional 300 euros per ton for additional dimensions.
Natalia Capra France
Kallanish.com
