SteelOrbis has learned that in the Italian domestic market base prices of rebar stand at €310-320/mt ($437-451/mt) ex-works, on actual weight basis. However, market sources have told SteelOrbis that buying activity remains low and that end-users, whose price idea is €20/mt ($28/mt) below this range, are reluctant to buy at this price level.
In the meantime, Italian producers are currently offering rebar to the export markets at €505-510/mt ($712-719/mt) FOB on actual weight basis. SteelOrbis has been informed that Algerian buyers are not showing much interest in Italian mills' offers for the time being. However, with the weakening of the euro against the Algerian dinar, the number of transactions is forecast to increase in the coming days.
€1= $1.409