Although local demand remains very weak, Italian rebar producers have succeeded in keeping their domestic prices at €385/mt ($427/mt) ex-works, i.e., stable compared to last week. According to market sources, the slow downward trend which had begun in the middle of May has been interrupted due to the significant volumes of rebar which have been sold to Algeria in past weeks.
On the export side, Italian rebar producers have concluded several sales for shipment by early August at a price level of €370/mt ($411/mt) FOB. This week, export activities have been much quieter due to the end-of-Ramadan festivities in Algeria.
€1 = $1.11