There have not been any significant developments in the Italian rebar market in the past week. Local prices remain at €435/mt ex-works, though with some prices as low as €425/mt ex-works. Meanwhile, domestic demand continues to be practically non-existent.
At present, Italian rebar producers cannot even count on the export market: the Algerian market is very quiet because of Ramadan and also due to the fact that local customers have high inventories and do not need to buy at the moment. In previous weeks, Algerian buyers had purchased rebar from Italian producers at €420/mt FOB or slightly lower depending on the supplier. SteelOrbis has learned that at the moment at least one Italian producer is offering rebar to Algeria at €435/mt FOB for shipments in September, in anticipation of an increase in scrap prices.