Italian rebar market sees poor demand and weak sentiment

Sentiment in the local Italian rebar market is still not good. Italian producers had been targeting a price level of €385/mt ($431/mt) ex-works in their domestic market, but without success. Currently, domestic producers' local rebar prices in Italy are standing at €355-375/mt ($398-420/mt) ex-works because of nearly moribund local demand. Against this background, Italian rebar producers are anticipating a €10/mt ($11/mt) decrease in scrap prices in October.
 
In the meantime, Italian suppliers are not obtaining much satisfaction from the export market either because there is still a lack of information about future developments regarding Algerian import licenses. The last rebar export negotiations in Algeria for Italian rebar were concluded at €360/mt ($403/mt) FOB, but these days no Italian rebar offer prices are heard in Algeria because Italian exporters are in wait-and-see mode.
 
€1 = $1.12