In the local Italian rebar market, domestic producers' prices have decreased by €20/mt ($22/mt) during the past week to €435-445/mt ($487-498/mt) ex-works. Local demand is currently at very weak levels.
Meanwhile, demand is also sluggish on the export side and last week's offer price levels of €450-470/mt ($504-526/mt) FOB are no longer realistic. Italian rebar producers have filled their order books until mid-June and are not in a hurry to conclude new sales. On the other hand, traders are looking for lower prices and it seems that new orders from Algerian buyers will be booked below the level of €450/mt ($504/mt) FOB.
1€ = 1,12$