Italian rebar prices are rebounding following the general price hikes that buyers are registering across all domestic steel products. After months of low quotations and struggling domestic sales for rebar, prices are hiking in transactions by as much as €40/tonne ($47/t), sources in the market tell Kallanish.

Some producers are now asking for €250/t base ex-works compared to €210-220/t base at the beginning of the month. Other producers halted sales last week and increased their asking prices by €20/t versus the beginning of the month to €240/t base ex-works. Agents and sales executives have managed to sell at up to €240/t base ex-works at the start of this week. Domestic prices are therefore now between €480-500/t ex-works on average, sources say.

Local mills are producing at full capacity in order to satisfy export orders. This week the majority of transaction are forecast to go over the level of €500/t base ex-works, reaching €510-520/t, Kallanish hears.