The Italian rebar market has remained quiet after the summer holidays. Market players consulted by SteelOrbis speak of poor demand in the market.
Base prices of rebar in the Italian market generally continue to stand at €280-290/mt ($386-400/mt) ex-works, though the price range is widening with the lower end now appearing to approach €270/mt ($373/mt).
On the export side, the situation is almost the same. Despite the depreciation of the euro against the US dollar, the export market is also quiet, while offers from Italian rebar suppliers are in the range of €510-515/mt ($704-711/mt) FOB. Recently in Algeria, buyers placed orders for Italian rebar at $535-540/mt ($738-745/mt) CFR.
Some sources speak of a possible increase in prices in the coming days, on the back of the weakening of the euro and the reduced supply of material.
In general, however, the European market is suffering from economic uncertainty. Demand remains remarkably low, although the weakened euro has led to an increase in inquiries and in the volume of transactions in southern Europe. The shortage of supply could lead to an upward correction in prices, but it is expected that the performance of the euro/dollar exchange rate will be decisive in the formation of the new price levels.
€1 = $1.38