In Italy, many rebar rolling mills are getting prepared to suspend their production due to planned maintenance works. Since this is causing reduced rebar supplies in the Italian domestic market, local rebar prices have increased by $10/mt, despite tepid demand ahead of the summer holiday. Thus, for deliveries to customer, local rebar prices in Italy are now at €540-550/mt ($783-798/mt) on actual weight basis.
In the meantime, SteelOrbis has learned Italian rolling mills' rebar offers to the export markets still stand at €510/mt ($740/mt) FOB on actual weight basis. In Algeria, the major export market of Italian rolling mills, buyers are not active in rebar bookings, influenced by the approach of Ramadan. Nevertheless Italian mills' rebar offers to Algeria still stand at €535/mt ($776/mt) CFR, though offers are scarce.
€1= $1.45