While demand in the Italian rebar market continues to be at very low levels, domestic producers are trying to increase their prices which are currently in the range of €435-445/mt ($600-613/mt) ex-works. Sources say that producers may try to increase their prices by €20/mt ($28/mt), and that this move would be aimed mainly at providing support for the upper end of the current price range, at which virtually no orders are received at the moment. Also, producers are aware that a price increase would not change anything in terms of sales, as demand is weak whether the domestic price goes up or down.
Meanwhile, export offers of Italian producers are all aligned at €435/mt FOB. Recently, Algerian customers have been asking for price reductions but have not been able to obtain them. Currently, Algerian demand is low because of the presidential elections to be held on April 17. Also, according to sources, Algerian buyers now have the feeling that rebar offers have reached the bottom. Thus, no price decreases are expected in the coming period
€1 = $1.377