Market sources report that currently Italian producers are offering 12-28 mm rebar in their domestic market at a price around €425/mt ($531/mt) ex-works. The decreasing trend which started last September seems to have slowed down a bit. However, domestic demand remains low and the buying activity is depressed, also as customers are even more cautious in light of the price reductions recorded in the domestic scrap market.
Meanwhile, in the export market, lately Italian rebar producers have completed sales at around €415-420/mt ($519-525/mt) FOB. Sources report that Italian producers have sold low-to-medium volumes to Algeria and that some customers are asking for material for the month of January. Currently, several rebar producers are adopting a cautious stance and are not offering material for December since they are not satisfied with the current price levels.
€1 = $1.25