According to sources, domestic
rebar prices in
Italy have continued to decrease during the past week amid very low demand.
Currently, Italian producers'
rebar prices for their domestic market are in the range of €370-380/mt ($392-403/mt) ex-works, decreasing by €10-20/mt compared to one week ago. Meanwhile, despite the delay in the renewal of
rebar import licenses in Algeria, negotiations have restarted between Italian producers and traders. While traders would like to buy at €380-385/mt ($403-408/mt) FOB, producers would like to sell at least at €400/mt ($424/mt) FOB.
Sources have told SteelOrbis that at the beginning of last week a European trader bought 5,000 mt of
rebar from an Italian producer at €390/mt ($413/mt) FOB, to be shipped to Algeria at the beginning of March. At the end of last week, also due to the uptrend of scrap prices, another Italian producer reportedly offered a limited quantity of
rebar at €400/mt FOB.
€1 = $1.06