Italian rebar producers are pushing up their prices again this week, as expected, due to high energy costs and increasing scrap prices. In mid-October they already raised their quotes by €40/tonne ($46) versus the beginning of the month, Kallanish notes.

Italian rebar mills are now asking for €500/t base ex-works. Contracts are slowly following and now hovering at €460-470/t base ex-works. This is up from €430/t last week. Including €260/t size extras, finished domestic rebar prices are now back at the level of €720-730/t ex-works, sources suggest.

Rebar production in the country has been significantly impacted by high energy costs, with most producers implementing stoppages during peak energy consumption hours. Buyers remain cautious with their purchases and prefer to implement smaller-tonnages contracts, sources note.