The situation has not changed in the Italian rebar market in the past two weeks. According to sources, local producers tried to raise their offers by around €30-50/mt last week. However, workable prices domestically have kept trending sideways after skyrocketing in March. In fact, base prices have remained at €880-900/mt, which translates to €1,140-1,160/mt ex-works for 14-26 mm diameters. "Construction yards are in a deadlock," a local trader commented, while other sources pointed out that so far mills have been forced to accept orders at the old prices. "Prices are too high," a representative of one mill admitted, though he added, "Production costs are high too, and mills prefer working at reduced rates, as they are reluctant to bear the risks of having high stocks."
As for the export market, the same source said, "Decent volumes were sold abroad lately", at prices in the range of €1,035-1,400/mt FOB for destinations in the Mediterranean region.