Demand in the local Italian rebar market is still at low levels. During the past week, domestic rebar prices in Italy have increased by €5-20/mt ($5-21/mt) to €390-405/mt ($413-429/mt) ex-works against the backdrop of the rises seen in scrap quotations.
Meanwhile, Italian rebar offers to Algeria - an important market for Italian rebar exports - are currently at €440/mt ($466/mt) FOB. It is observed that Algerian buyers are still seeking to purchase rebar but some Italian rebar producers are unwilling to conclude sales to the country as they expect rebar export quotations to rise further.
€1 = $1.06