SteelOrbis has been informed that domestic producers' rebar prices in the local Italian market currently stand at €400-410/mt ($424-435/mt), compared to the range of €380-400/mt in late December, both ex-works. In the meantime, market sources state that at least one local steel producer trying to ask for €420/mt ($445/mt) ex-works. Since demand in the local Italian rebar market is at low levels, the main reason behind the price increase is believed to be the upward trend of scrap prices.
On the export side, the Algerian market is maintaining a wait-and-see stance because of the absence of import licenses for rebar, which are supposed to arrive in February but could also arrive in March. The reference price for Italian rebar for Algeria is €420-425/mt ($445-451/mt) FOB, but rumors are indicating a possible increase of €10/mt ($11/mt).
€1 = $1.06