According to market sources, local producers' rebar prices are currently at €445/mt ex-works in the Italian domestic market, consolidating from levels of €435-445/mt ex-works seen last week. Local demand remains weak, but some market sources are hoping for a slight demand revival in June.
Sources interviewed by SteelOrbis feel that the maximum possible price level has been reached, and that currently producers are not seriously thinking of attempting another price increase, but are in fact trying to stabilize prices at the current level.
As for the export market, Italian producers' rebar offers are still at €420/mt FOB. Sources said that, although some traders are pushing for lower prices, Italian producers are able to close transactions at the given price level. Meanwhile, most Italian producers have full order books for June and have begun offering material for July shipments at the same price, i.e., at €420/mt FOB.