Silence reigns in the local longs market in Italy, where everything is at a standstill due to the Easter holidays causing activity to halt. Customers, meanwhile, are waiting for some certainty on whether the new prices demanded by producers will hold.
Rebar in the local Italian market have been standing at around €450-470/mt ex-works base (which means €715-735/mt ex-works, including regular extras), stable compared to last week. Wire rod SAE1006 in Italy has also been stable at around €720/mt DAP northern Italy. "It's going to be a very flat month because of the extended weekends for various holidays," commented one Italian trader, adding, "We predicted it, and this week confirmed the sentiment."
There were a few export offers which stood at around €640-660/mt FCA Romania for rebar, but no import offers reported. The market is still waiting to see how things will move after the Easter vacations next week.