Activity remains very slack in local Italian rebar market

SteelOrbis has learned that in the last two weeks domestic producers' rebar prices in the local Italian market have remained at €470/mt ex-works. Currently, according to sources interviewed by SteelOrbis, it seems that there is no room for a further decrease in prices. Local producers are trying to push for a further decline in scrap prices, but without success. Demand remains extremely slack and rainfall in the recent period has certainly not contributed to any improvement in the demand situation.
 
Abroad, in the meantime, Italian rebar producers are still trying to collect orders for the month of February. Their rebar export offers are generally at €450-455/mt FOB, but demand in Algeria is nonexistent at the moment, with buyers having bought for the month of January and now they are only buying in line with their needs due to the uncertain environment.
 
€1 = $1.358