According to market sources, this week Italian rebar producers have concluded sales to Algeria at the price level of €315/mt ($340/mt) FOB (equivalent to about €345/mt ($373/mt) CFR). At the same time, some Italian producers' offers are at €320/mt ($346/mt) FOB, with the aim of consolidating the €315/mt ($340/mt) FOB level. Meanwhile, rebar demand has increased in the Algerian market. Holding the view that prices have bottomed out, importers now seem more willing to accept price increases from Italian producers.
€1 = $1.08