Demand is still low in the Italian domestic rebar market. However, Italian mills have increased their official domestic rebar prices by €10/mt ($14/mt) as compared to last week, after they concluded rebar transactions to Algeria yesterday, October 18, with the mills' official domestic prices thus reaching €530-540/mt ($731-745/mt) ex-works on actual weight basis. In the meantime, it is also reported that rebar market prices do not exceed €520-525/mt ($718-725/mt) ex-works in Italy.
As for yesterday's rebar transactions to Algeria, Italian mills concluded transactions for a total of about 20,000 mt at an average of €505/mt ($697/mt) FOB for shipments in late November. Italian rebar producers' export offers are now standing at €505-510/mt ($697-704/mt) FOB. Meanwhile, their other export markets are sluggish. Italian rebar mills' latest offers to Algeria are at €535/mt ($738/mt) CFR.
€1 = $1.38