In the Italian domestic rebar market, prices have shown some softening due to weak demand, reaching €520-530/mt ($723-737/mt) on actual weight basis, for deliveries to customer. However, due to Italian steelmakers' planned maintenance works in late July, as well as already emerging supply shortages for some rebar sizes, market players state that a price hike is likely to occur in the coming period.
In the meantime, SteelOrbis has learned Italian rolling mills' rebar offers to the export markets still stand at €505-510/mt ($702-709/mt) FOB on actual weight basis. In Algeria, the major export market of Italian rolling mills, there is some rebar demand and buyers are reportedly concluding rebar transactions at €530-535/mt ($737-744/mt) CFR.
€1= $1.39