Prices continue to follow a weak trend in the Italian rebar market. Rebar base prices in Italy are now at €250-260/mt ($313-325/mt), which is the lowest level recorded in 2012. Furthermore, it is common for transactions to be completed at even lower prices.
The factors which have been negatively affecting the domestic rebar market are still the same: weak demand, shortage of liquidity, lack of activity in the construction sector and the debt crisis.
On the bright side, thanks to the weakness of the euro against the dollar, Italian rebar producers have been able to get more satisfaction from exports and sometimes manage to book orders at prices higher than those in the domestic market. However, the period of Ramadan is approaching and the market players consulted by SteelOrbis speak of large volumes of material still held up at Italian ports, while shipments may be postponed at the request of foreign customers.
€1= $1.25