SteelOrbis has learned that in the Italian domestic market base prices of rebar have decreased by €10/mt ($14/mt) compared to two weeks ago to €270-280/mt ($383-398/mt) ex-works, on actual weight basis. Market sources told SteelOrbis that the demand from end-users continues to be very low, although local mills may try to increase the official prices in order to match the actual prices in the international markets in the coming period. For deliveries to customer, local rebar prices in Italy are at €530-540/mt ($753-767/mt) on actual weight basis.
In the meantime, SteelOrbis has learned Italian rolling mills' rebar offers to the export markets still stand at €505-510/mt ($717-724/mt) FOB on actual weight basis. In Algeria, the major export market of Italian rolling mills, since buyers are waiting for the arrival of cargoes of previously concluded transactions they are not interested in new bookings. Nevertheless Italian mills' rebar offers to Algeria still stand at €530-535/mt ($753-760/mt) CFR, though offers are scarce.
€1= $1.42