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