Confusion currently reigns in the Italian rebar market. Prices are on a downward trend and demand does not appear to be great - as players in the market have reported.
According to the reference base prices issued by the Brescia Chamber of Commerce price commission, the base rebar price is €268-275/mt ($378-388/mt), around €10/mt ($14/mt) lower compared to the start of September and at some distance from the peaks registered in March when base quotations reached €360-370/mt ($508-522/mt).
Those involved in the market find the situation difficult to interpret. Contrasting signals are being sent by the producers, and traders are maintaining a wait-and-see stance, limiting themselves to the bare minimum level of purchases. As a result, apparent demand is weak and this has had a knock-on effect on quotations. End-user demand is in line with the levels of the preceding months.
Due to the above situation, it is not easy to make a prediction for the short-term future. Some traders have expressed the view that quotations could remain stable until the end of the year. Currently, the necessary conditions for an upturn do not seem to exist.