Domestic rebar prices in Italy have decreased further in the past week, from €480-490/mt to €480/mt ($586/mt) ex-works, due to very low demand - which decreased further due to the Easter holidays - and the slight decline in local Italian scrap prices.
Meanwhile, while Algerian demand for Italian rebar remains absent, while the only sales made by Italian rebar producers by sea are directed to the US, with offers at €490-500/mt ($598-610/mt) FOB. According to sources, there are good expectations for sales to the US market thanks to the US import tariffs that at the moment have hit Turkish exporters and spared Italian exporters. While the exemption for the EU market is only temporary, traders are reported to be buying Italian rebar to sell it in the US.
€1 = $1.22