Domestic producers'
rebar prices in the local Italian market are currently at €435-445/mt ($561-574/mt) ex-works. Local demand is still weak, but Italian mills aim to maintain their current price levels. According to market sources, domestic
rebar prices should remain stable over the next 10 days, or remain unchanged as long as scrap prices do not show signs of weakening. As stated by a local producer, since the Italian scrap consumers association Nuovo Campsider foresees a stable trend in the Italian scrap market throughout September, then it is quite reasonable to assume that domestic
rebar prices will remain stable in the coming period.
Meanwhile, in the export market Italian
rebar producers have secured a few orders at €425-430/mt ($548-555/mt) FOB with delivery in late September-early October. SteelOrbis has learned that the favorable euro-dollar exchange rate has partially won over cautious Algerian buyers. However, these buyers do not have a compelling need to buy
rebar because their stocks are already high enough. On the other hand, due to the slow resumption of production after the return from the holidays, the volumes available from Italian producers are not very high. As a result, Italian producers say they are moderately satisfied with the export orders they have been able to collect.
€1 = $1.29