As expected, local producers' base rebar prices in Italy have increased this week, rising by about €5-10/mt ($7-13/mt), and are now generally standing at €280-285/mt ($367-373/mt), ex-works. Some producers have tried to offer material at €290/mt ($380/mt), but demand remains weak. Meanwhile, a slight improvement is reported in the situation regarding collection of payments.
While silence continues to prevail in the domestic rebar market, Italian producers say they are satisfied by their exports, which are focused mostly on Algeria. Offers to Algerian buyers continue to stand at €510/mt ($668/mt) FOB. In Algeria, there is a wide availability of material, both incoming and in stock, and Algerian buyers expect prices to stabilize at lower levels.
€1 = $1.31