Proposal to amend steel reinforcing bar domestic, exw Italy assessment

One of the key changes proposed is to transition to a base price from the effective due to the peculiarities of the structure of the Italian rebar market.

Unlike in most European countries, Italy produces two types of products for concrete reinforcement, which are bars and spools, both being widely traded.

These two products have different extras to the base price, published officially by the mills, which depend on the type and diameter of the material. Customers largely buy a mix of bars and coils in different proportions and diameters. The extras are sustained, while base prices are liquid.

Fastmarkets proposes to transition to an assessment of a base price alongside the provision of official extras in an appendix to Fastmarkets’ pricing methodology and specification document. This will make Fastmarkets’ assessment more reflective and will allow for the evaluation of the effective price more precisely by adding the official extras published by producers in Italy. 

Other changes proposed are to:
• amend the quality of the specification to B450C grade from BS 4449 EN 10080; B500A, B500B and B500C since the former is the most traded in Italy; and
• widen of the diameter range to 8-40 mm from 8-16mm to include all sizes available.

The proposed specifications are as follows, with amendments in italics:

MB-STE-0037 Steel rebar assessment (base), domestic exw Italy, €/tonne
Quality: B450C diameter: 8-40 mm, length: 12,000mm
Quantity: Minimum 50 tonnes
Location: ex-works Italian mills
Timing: Up to 6 weeks
Unit: € per tonne
Payment terms: 60/90 days after invoice, at the end-of-the-month, by bank transfer
Publication: Weekly, Wednesday, 2-3pm London time
Notes: Only material offered/traded within Italy, as defined above, will be considered. Official extras published by producers in Italy added to Appendix A

This price is a part of the Fastmarkets steel package.

The consultation period for this proposed amendment starts from Friday July 11 and will end on September 19, with the amendment, subject to feedback, to take effect from September 24.

To provide feedback on this price, or if you would like to provide price information by becoming a data submitter to this price, please contact Vlada Novokreshchenova by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Vlada Novokreshchenova, re: domestic rebar assessment in Italy.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, go to https://www.fastmarkets.com/methodology.