Transactions are scarce in the Italian domestic rebar market, as demand is still lackluster. Due to the harsh weather conditions, in the past month prices in the Italian rebar market have trended down significantly.
Local base price offers of Italian rebar producers have decreased by €10/mt ($13/mt) in the last two weeks to €270/mt ($356/mt) for medium sizes. On the export side, the situation is somewhat better, with the latest offers to Algeria standing at €505-510/mt ($667-673/mt) FOB, almost unchanged since the last market update. North African buyers have been responding positively to the Italian rebar price levels and, according to reports, trade activity to this region has been decent. Market players hope that long steel export prices may provide some relief amid the downtrend of local quotations.
Back on the domestic front, construction activity is still slack and is not likely improve before the spring. According to SteelOrbis sources, rebar prices in Italy are bound to recover as the weather gets better.