Domestic rebar prices decrease slightly in Italy

SteelOrbis has learned that domestic producers' rebar prices in the local Italian market are at €365-375/mt ($409-420/mt) ex-works this week, €10/mt ($11/mt) lower compared to ten days ago. Domestic demand is still slack, while, as for the export market, there are still inquiries from Algeria despite the uncertainty around the renewal of import licenses in the country.
 
Most licenses expired on August 23, but some buyers have licenses that will expire later. In any case, Italian rebar producers are slowly coming back from the summer holiday and have no supplies in their warehouses. However, the export situation may deteriorate for the Italian producers since, after having satisfied the demand coming from the few buyers who still have import licenses, demand for rebar from Algeria may drop significantly within a few weeks. Currently, Italian rebar producers' export offers are at €370-375/mt ($414-420/mt) FOB, the same level recorded in the second half of July.
 
€1 = $1.12