Italian rebar prices are continuing to weaken, Kallanish learns from market sources in the country.

Some producers are now asking €260/tonne ($303.7/t) base ex-works. However, transactions are in the range €240-245/t base ex-works having fallen from last week’s peak of the range of €260/t for small tonnages. “Today if you manage to sell at €250/t it means you are very good or very lucky. I lost an order because I insisted in €245/t base ex-works,” a sales executive comments.

Today’s transaction range means prices have lost €40/t since the beginning of September. Prices are now at €500-505/t ex-works including extras, sources suggest.

Domestic rebar prices had risen to €280/t base ex-works due to low material availability and high export orders (see Kallanish passim). Prices are now falling in line with the market uncertainty affecting all steel products in Italy.