During the week of July 15, Italian rebar prices dropped by EUR 20 to EUR 610. According to sources, this decrease was assessed as a result of the slowdown in the construction sector and reduced demand.
During the same period, a similar drop was observed in wire rod prices. The new price was adjusted down by EUR 20 to EUR 635. Sources reported that due to the ongoing crisis in consumption, service centers will have to accept significant price increases in steel to maintain production and meet orders. This could lead to a loss of competitiveness in international markets, they noted.
The steel plate market followed this downward trend in the new week, dropping by EUR 10 to trade at EUR 660.
According to Assofermet, the Italian Association of Steel Distributors, Italian steel distributors reduced their steel sales by 15% in January-June 2024 compared to the same period in 2023.
Steel prices have remained relatively stable over the past few weeks, although demand for finished products has been generally stable. Assofermet mentioned that there could be potential shortages of some products due to the prolonged closures announced by many steel mills and that July is expected to be a challenging month in terms of demand and price levels.
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