According to sources, Italian domestic producers’ local prices for 12-28 mm rebar are currently at €335-345/mt ($362-373/mt) ex-works, i.e., €10/mt ($11/mt) lower compared to two weeks ago. Local demand, which was already sluggish, has been slackening further due to the approaching holidays.
Meanwhile, Italian rebar offers to the export markets have moved upwards by €15/mt over the past two weeks to €330-340/mt ($357-368/mt) FOB, for January shipment. The increase is not due to a strengthening of demand. Algerian buyers prefer not to place orders at the moment, as they have to wait until the start of January to know if their government will set a limit to imports. The increase in Italian rebar export prices has been attributed instead to the price increases observed in the local Italian scrap market in recent weeks.
€1 = $1.08