In the Italian domestic market, local producers' rebar base prices have essentially remained stable in the range of €480-500/mt ($634-660/mt). SteelOrbis has learned that there is a certain lack of material in the spot market. Some suppliers, in fact, prefer to hold on to their rebar in view of a possible recovery of prices in September. Since there are few orders and as stoppages by mills are imminent, the domestic market has accepted the aforementioned prices without difficulty, but local demand remains sluggish as always.
In the export market, meanwhile, sales activity has in general been suspended. Currently, Algerian buyers do not intend to conclude purchases. Although Spanish suppliers have started to offer material, sources say their upward price expectations may not be fulfilled. Returning to the Italian producers, they have low scrap stocks as well as low volumes of rebar for sale. This situation is expected to continue at least until early August.
€1=$1.32