In the local Italian rebar market, domestic producers' prices have softened further to €405-415/mt ($458-469/mt) ex-works, compared to €415/mt ($469/mt) ex-works last week, while market players have also said that prices may continue to decline because of the downtrend of scrap prices and due to very low demand.
Also on the export side, Italian rebar producers have lowered their offers to €385-395/mt ($435-446/mt) FOB compared to €410-420/mt ($463-475/mt) FOB last week and down from the peak of €460/mt ($520/mt) recorded in May. While demand in the Algerian market is slower due to Ramadan, no sharp drops in prices for Algeria are anticipated.
€1 = $1.13