In the past week, rebar prices have decreased further in the Italian domestic market due to low demand. Local producers' domestic 12-28 mm rebar prices have decreased by €5-10/mt since last week and are currently at €405-410/mt ($450-455/mt) ex-works. Market sources have told SteelOrbis that they think the coming month will also be tough in terms of activity.
Activity levels are likewise very low in the export market, due to the month of Ramadan which will end on July 18. The latest export offers from Italian producers are at €410-415/mt ($455-461/mt) FOB for July shipment, but buyers in Algeria, the main export market, are still in wait-and-see mode for the time being.
€1 = $1.11