Italian rebar prices have stabilised this week, after the market showed weakness this month, with ongoing sales occurring for smaller tonnages, sources tell Kallanish.

Currently, several mills are seeking €350/tonne ($364/t) base ex-works for new contracts; however, this price has yet to be achieved. Buyers are demonstrating resistance to the increases while maintaining a consistent purchasing pattern of a few truckloads on a weekly basis.

The current contract price for domestic rebar hovers at a base price range of €320-340/t ex-works. Following a month-on-month increase averaging €25/t, current transactions are in line with last week's figures, ranging from €580-600/t ex-works, inclusive of size extras.

Domestic mesh contracts remain steady at €430/t on average, not including transportation costs, with size extras reported to be an additional €300/t, according to sources. In spite of the sluggish market, rebar is regarded as one of Italy's best performing long products. According to a source, this is due to the ongoing infrastructure projects funded by the post-Covid European recovery fund.