SteelOrbis has learned that, although Italian rebar producers tried to raise their prices by at least €10/mt ($11/mt) last week, their prices have remained at €415/mt ($469/mt) ex-works this week, i.e., the same level as in the previous week. According to the market players surveyed by SteelOrbis, it is difficult for local suppliers to sell rebar at prices above this level amid low demand and strong competition among suppliers.
Meanwhile, the Algerian market, though it continues to provide support for Italian rebar production, does not seem willing to accept any price increases. Market sources have said that at present Algerian buyers are offering strong resistance to any price increases from Italian rebar producers.
€1 = $1.13