Rebar prices have been stable on a weekly basis in Italy following a €30/ton ($32) increase this month from their October lows. This comes after local steel producers offered increases of around €320-350/t on ex-mill basis for November.
On ex-mill basis, transaction prices are running around €300-310/t while locally produced wire mesh is around €400/t. This means that buyers need to add around €300/t extra for transportation. According to sources, rebar prices are expected to reach €320/t ex-works in the forthcoming days. Distributors expect massive infrastructure projects to start in 2024, which will need to be financed by the European recovery fund.
According to the producer source, the second quarter was stable due to discounts to sell the material, but there will be no major financial losses as profits were made from the beginning of the year. For this reason, inventories are kept to a minimum.
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