Demand in the local Italian
rebar market is still at low levels. During the past week, domestic
rebar prices in
Italy have increased by €5-20/mt ($5-21/mt) to €390-405/mt ($413-429/mt) ex-works against the backdrop of the rises seen in scrap quotations.
Meanwhile, Italian
rebar offers to Algeria - an important market for Italian
rebar exports - are currently at €440/mt ($466/mt) FOB. It is observed that Algerian buyers are still seeking to purchase
rebar but some Italian
rebar producers are unwilling to conclude sales to the country as they expect
rebar export quotations to rise further.
€1 = $1.06