The Italian rebar market is still very quiet, while local producers' base prices remain in the range of €480-490/mt ($624-637/mt) ex-works. According to the market operators consulted by SteelOrbis, sales remain slow but are sufficient to ensure survival. Given the narrow profit margins and the need to restore profitability, there is no intention to allow any price decreases, regardless of the low levels of demand and the scrap market trend, which is foreseen to decrease during the current month.
Meanwhile, on the export side the situation has worsened due to low demand. Offers from Italian producers to Algeria are at €455-460/mt ($591-598/mt) FOB, though the asking price of some traders stands at €450/mt ($585/mt).
€1 = $1.299