Long steel prices are rising in Italy amid higher energy costs, but the market is not responding with an increase in orders. Demand remains weak, and raw material prices are not rising. Market participants do not expect any significant improvement in November.
In the rebar segment, some deals were concluded at around €480 per tonne ex-works, excluding extras—or €740 including standard extras. Producers were asking €510 and €770 per tonne, respectively.
“Although prices have reached a good level, they are not supported by the volume of incoming orders, which is significantly below production,” a market participant said.
Some producers expect demand in November to be slightly higher than in October. However, the overall picture remains unfavorable. As SteelOrbis previously reported, Italian steel groups are considering reducing output or suspending operations at individual plants in November: gas and electricity prices have reached peak levels, forcing companies to revise production schedules, especially during periods of peak consumption.
The PUN Index GME stood at €277.64 per MWh on November 5. Its average for the month to date reached €277.13 per MWh, compared with €230.82 in October and €117.09 in November 2025.
After several months of stability or slight increases, domestic Italian wire rod prices are preliminarily estimated at €700–715 per tonne delivered for drawing quality and €675–690 for mesh quality. In October, the average ranges were €675–680 and €660–670 per tonne, respectively. If the new levels are confirmed, drawing-quality wire rod will rise by €25–35 per tonne, while mesh-quality wire rod will increase by €15–20. Buyers remain cautious for now.
“The export market is no longer enough. We cannot operate at the same volumes as in the domestic market, and rising costs mean we can no longer sustain sales at previous prices,” one market participant said.
According to the participant, export sales volumes have also declined. The latest export offers for Italian rebar are around €620 per tonne FOB—€10–20 higher than a week earlier. No export offers for wire rod have been reported.
