According to market sources, in the Italian domestic market local producers' prices for 12-28 mm rebar are now at €385-395/mt ($431-442/mt) ex-works, compared to the level of €405/mt ($454/mt) recorded two weeks ago. Sales volumes are still low, but the market is not completely quiet. Though, domestic buyers are ordering little by little on the back of the high uncertainty and the ongoing decrease of local scrap prices.
As for the export market, the latest orders concluded in Algeria have been at the €340/mt ($381/mt) FOB level. Now, though, some traders are asking to pay lower prices. Algerian buyers are on a wait-and-see mode, especially since they are on vacation due to the Feast of Sacrifice. According to sources, Italian steel producers are relatively calm and not in the rush to sell as their supplies are not high at the moment.
€1=$1.12