SteelOrbis has learned that in the Italian market local rebar price has been stable in the past three weeks, i.e., at €415/mt ex-works for material with diameter of 12/28 mm. Demand is low, but according to sources it is not reasonable to expect much higher levels of activities in the month of February. Customers are expecting price reductions and therefore are not inclined to buy, but according to sources it is difficult that prices decrease much further because local scrap prices shouldn't go much down either.
Meanwhile, Italian producers are offering rebar to the export market at prices in the range of €410-415/mt FOB. However, currently Algerian buyers are expecting price decreases and are not likely to make new orders. According to sources, the problem doesn't lie so much in prices, but depends more on the general climate of uncertainty and downward predictions in the global steel market.