Italian rebar contract prices are continuing to tick up, confirming the slow upward trend that started at the beginning of the month, market participants tell Kallanish.

Local producers are now quoting at €580-590/tonne ($657-669) base ex-works, mostly due to high energy and transport costs. Today’s contracts for low tonnages range between €540-570/t base ex-works. Including size extras, domestic values are now at €800-830/t ex-works, sources suggest.

Demand however remains weak and deals are done only back-to-back for relatively small tonnages. While public infrastructure projects are absorbing the increases, the private residential sector is slowing down most new projects due to uncertainty and the latest wave of Covid-19, distributors say.

According to national statistical institute Istat, in October 2021, the construction industry registered a growth of 0.8% compared to the previous month. In the first ten months of last year, the sector grew 25.5% compared to the same period in 2020, Kallanish notes.