In the local Italian market, at the beginning of this week Italian producers' spot prices for medium-sized rebar were in the range of €310-315/mt ($344-350/mt)ex-works, but the increases in prices of scrap and iron ore have led to expectations for a €20-25/mt ($22-28/mt) increase in local rebar producers' prices.
At present, there is a certain degree of confusion in the local Italian rebar market and it seems that some Italian producers have halted their sales ahead of the release of new price lists, while others are still selling but mainly just small quantities and without offering any discounts.
In the meantime, downstream demand remains weak.
On the export side, Italian producers have filled their order books with orders coming from Algeria at average prices of €310-320/mt ($344-355/mt) FOB, but some days are needed to see whether there will be a new price range for new orders.
€1 = $1.11