In Italy, domestic rebar prices generally decreased in the week to Wednesday, September 17, despite rising production costs and attempts by suppliers to raise quotations.
According to buyers, the rising cost of energy and fuel continues to put pressure on production costs and logistics, especially against the backdrop of ongoing tensions in the global economy and geopolitics.
"Energy and fuel prices continue to rise, and this further increases the pressure on production and transportation costs," said a Fastmarkets source among buyers.
Market participants noted a slight improvement in speculative demand across Europe compared to the end of August and the first days of September. Nevertheless, this was not enough to ensure a noticeable increase in prices, which manufacturers are seeking.
"The Italian rebar market is still quite slow, and demand is still too weak to fully support a significant price increase," a Fastmarkets source said.
In northern Italy, supply prices were estimated at 700-730 euros per ton on ex-works terms, while in the south they were 730-750 euros per ton of ex-works. Higher offers were also received — 760-770 euros per ton of ex-works, but there was no confirmed transaction activity at these levels.
According to Fastmarkets, the price of rebar on the Italian domestic market on September 17 was 700-750 euros per ton, whereas a week earlier it was at the level of 690-750 euros per ton.
Fastmarkets' estimate for rebar supplied to Spain remained unchanged at 750 euros per ton.
In Germany, domestic prices for rebar, on the contrary, increased and, according to rumors, were at the level of 715-720 euros per ton supplied. Fastmarkets' estimate for rebar supplied to Northern Europe on September 17 was 715-730 euros per tonne versus 710-730 euros per tonne a week earlier.
Wire prices remained mostly stable during the reporting week: weak demand and low liquidity continued to restrain market activity.
Fastmarkets' assessment for network-quality wire rod in the domestic market of Southern Europe as of September 17 has not changed and amounted to 660-680 euros per ton.
Fastmarkets' assessment for network-quality wire rod in the domestic market of Northern Europe also remained unchanged and amounted to 690-715 euros per ton.
In the European beams and sections market, prices remained generally stable compared to the previous month.
Fastmarkets' estimate for average profiles in the Southern European domestic market was 800-870 euros per ton, unchanged from August.
The price of beams in the domestic market of Northern Europe increased in monthly terms and amounted to 810-860 euros per ton. A month earlier, the indicator was at the level of