SteelOrbis has been informed that in the Italian market domestic producers' local rebar prices are currently in the range of €435-45/mt ex-works, i.e., stable compared to the end of April. Italian producers appear very determined to maintain a firm stance on these price levels. In particular, according to sources interviewed by SteelOrbis, the bigger producers do not want to take a backward step from these prices, while the smaller producers - many of which are still closing orders at previous prices - are expected to slowly adapt to the new levels. In terms of orders, the situation has remained generally slack, but currently the domestic market appears more lively compared to last week. Also according to sources, customers have so far shown a willingness to accept the new price levels.
Meanwhile, Italian producers are still offering rebar to Algeria at €420/mt FOB. Algerian buyers accept the idea that a price increase is going to be applied and so new orders have started to be concluded. Algerian demand, aided by the fact that some buyers are seeking to conclude purchases before the beginning of Ramadan, seems to be a little stronger compared to a week ago.