Italian rebar sellers are pushing up their prices by €20/tonne ($23.6) for September contracts amid a general wave of price hikes for both flat and long products in the country.

Buyers, however, tell Kallanish the market for rebar remains quiet. Moreover, sellers are signing contracts for small quantities unlike other long products in Italy for which demand has picked up this month. Rebar distributors have adopted a wait-and-see attitude. Only a few contracts for very small tonnages have been agreed at increased prices.

Producers are now asking for €140-150/t base ex-works, up from the level of €120/t last month. Prices in the first week of September hovered around €130-140/t for low tonnages.

A buyer says it signed a contract at €125/t base ex-works for 700 tonnes with delivery in the last days of August, but has not started negotiating new contracts. He envisages paying €130/t base ex-works but refuses to pay more. Including €260/t size extras, transaction prices are at €385-400/t ex-works, sources suggest.

Mills believe the level of €150/t base ex-works will be achieved in September. Buyers say their order books are well filled until the end of the year. However, very few new construction projects are being financed.