Prices for rebar and wire rod on the domestic market in Europe remained virtually unchanged in the week to Wednesday, October 29, as limited demand held back attempts by factories to raise prices.
It was reported that Italian manufacturers are withdrawing their offers from the market in an attempt to achieve higher prices by the end of the year.
"The situation in Italy is quite complicated. As of October 27, almost all manufacturers have suspended sales. The goal, apparently, is to bring the base price of bullion to 300 euros per ton from the factory (equivalent to 565-570 euros per ton from the factory at an effective price)", - said one customer.
"This step is dictated by balance sheet requirements: manufacturers need to quickly return quotes to the levels that were fixed at the end of 2024 in order to avoid reporting losses exceeding expected. Financial reports for 2024 have already shown that all manufacturers ended the year with losses, and 2025 does not look promising," the buyer added.
In Italy, as in many European countries, the effective price consists of the base price, which fluctuates, and additional prices, which rarely change and are publicly available. The average prices for steel bars with a diameter of 8-40 mm and a length of 12 meters, estimated by Fastmarkets, range from 265-270 euros per ton.
.The buyer reported ordering a batch of fittings at a price of 280 euros per ton from the factory, which is equivalent to 545-550 euros per ton from the factory before the plants left the market.
One of the largest producers in the country confirmed that the factories are trying to raise prices, but they believe that the factory is still far from reaching the level of 300 euros per ton.
The manufacturer estimated acceptable effective prices in the range of 530-550 euros per ton at the factory.
Thus, Fastmarkets' weekly price estimate for steel rebar for domestic consumption (exw) in Italy on October 29 decreased to 530-550 euros per ton from 520-550 euros per ton on October 22.
The corresponding price estimate for rebar steel rods supplied to Spain, according to Fastmarkets, increased slightly to 640-645 euros per ton on October 29, compared with 635-640 euros per ton on October 22.
It was also difficult for factories in Northern Europe to raise prices.
The German steel mill announced its intention to raise the base price to 360 euros per ton delivered (625-630 euros per ton, effective for bars with a diameter of 8-32 mm and a length of 12 meters), but this was not accepted by consumers, and thus the base price was 350 euros per ton (620-625 euros per ton effective) remained functional.
In France, Switzerland and Austria, as reported, Italian fittings were sold at a price of 595-600 euros per ton.
.Weekly price assessment for steel rebar supplied
