In the Italian domestic
rebar market, the most recent domestic
rebar prices in
Italy were standing at €540-550/mt ($783-798/mt) on actual weight basis, for deliveries to customer. In
Italy, the steel market has slowly begun to return from its summer holiday this week, while most producers are expected to resume operations next week. While demand and
rebar supplies are low in the local Italian
rebar market, Italian mills' most recent offers to the export markets were at €510/mt ($740/mt) FOB on actual weight basis.
In the Spanish domestic
rebar market, domestic
rebar base prices have softened by €10/mt as compared to last week, declining to €300/mt ($435/mt). While the summer holiday is also about to end in
Spain, demand is still low in the Spanish
rebar market. In the meantime, Spanish mills'
rebar export offers are still at €510-515/mt ($740-747/mt) FOB, on actual weight basis. Although Algerian buyers are still making inquiries to
Spain and have concluded some small volume transactions, they prefer to wait until the end of Ramadan. SteelOrbis has learned that
rebar offers to the Algerian market are at €535-540/mt ($776-783/mt) CFR on actual weight basis
In the last days of the summer holiday,
rebar demand in
Portugal continues to be weak and domestic prices are following a sideways trend. Spanish mills'
rebar offers to
Portugal still stand at €580-585/mt ($841-845/mt) on actual weight basis for deliveries to customer and for 60-day deferred payments.
Domestic
rebar prices in the local Bulgarian market have been revised upwards in line with regular demand, reaching BGN 1,015-1,025/mt ($748-755/mt) CPT on actual weight basis, exclusive of 20 percent VAT. Market players state that they expect demand to show further improvement by September.
In the Greek domestic
rebar market, demand is still very low as the summer holiday period begins to draw to a close. In the Greek domestic market, mills' prices for medium size
rebar have remained unchanged at €540-580/mt ($783-841/mt) for 30-day deferred payments, delivered to customer, excluding VAT and on actual weight basis.