The Italian rebar market remains quiet, in a deadlock situation characterized by uncertainty and few sales. Supplies range from low to medium, like demand. Meanwhile, some market players state that in one way or another they are managing to stay afloat.
With regard to prices, earlier this week there was an attempt to increase local quotations by approximately €10/mt ($14/mt). Currently, in the Italian market, rebar base prices stand in the range of €295-300/mt ($398-405/mt) ex-works.
As for exports, last week the weakness of the euro allowed the conclusion of some orders, especially to countries in North Africa and the Middle East. Difficulties coming from low liquidity are pushing Italian producers to turn to foreign markets, where collection of payments seems guaranteed. Export offers have increased by €5/mt ($7/mt), reaching €515-520/mt ($695-702/mt) FOB. In particular, Italian rebar offers to Algeria are at €540-545/mt ($729-736/mt) CFR.
Market players hope that this will be a continuing trend, but given the problems which beset the financial markets it is difficult to make predictions. What is certain is that in the period ahead the macroeconomic situation will have a decisive influence.