Italian rebar market lacks strength, local prices stable

In the Italian domestic rebar market, demand lacks strength and transactions are in small tonnages aimed at meeting urgent needs. However, Italian mills have kept their rebar prices unchanged this week at €510-515/mt ($687-695/mt) ex-works, on actual weight basis.
 
The financial situation in Italy remains worrying, while some market operators are concerned about the prospects for the market trend in the coming winter months.
 
In the meantime, Italian rebar producers' export offers have softened by €10-13/mt ($14-18/mt) this week, declining to €487-490/mt FOB ($658-662/mt), on actual weight basis. As expected, the low demand combined with the stability of the euro/dollar exchange rate has resulted in downward price corrections. Some rebar transactions have been concluded from Italy to Algeria at this price range, though in small tonnages, and Algerian buyers are still making inquiries to Italian rebar mills.
 
In general, the southern European rebar market is still characterized by a lack of orders, weak prices and uncertainty, and for the moment this situation seems likely to continue.
 
€1 = $1.35