Italian beam producers are seeking €40/tonne ($48/t) hikes compared to May, due to the current strong demand and increasing values of scrap and all steel products in the country, Kallanish learns from market sources.

Producers are now asking for €520/t base ex-works for the first category of beams. At the beginning of May they were asking €380/t base ex-works. They are said to have full order books and lengthening lead times.

Transactions are currently at €480-520/t base ex-works for the first category of beams but sellers say they are consolidating the high point of the range. Including €385/t average size extras, values are reaching €865-900/t ex-works, the highest levels seen in the past decade. Prices increase by €20/t for each subsequent category, sources suggest. According to sellers, next week a further increase is expected to be implemented on sections.

Meanwhile, Italian merchant bar mills are also increasing asking prices to €450-470/t ex-works on strong export demand (see Kallanish 31 May). This week’s domestic contracts are at €820-880/t ex-works including €420/t size extras, sources say.