Following the price decreases reported a week ago, local producers' domestic rebar prices in Italy have increased by €20-30/mt ($25-$38/mt) in recent days. The volumes sold in the export market are not particularly significant, while in the local market it is evident that the declining trend of scrap prices has now come to an end. In this context, Italian steel producers have felt the necessity to regain some margins in their domestic market. Not all mills are aligned with the price levels of €470-480/mt ($560-$609/mt) ex-works, but those who have pushed for price increases are very determined to hang on to them. Market players surveyed by SteelOrbis report that some orders have been booked at the increased prices and that, given the current period and the low level of demand, sales volumes are on the whole in line with expectations.
Turning to the export market, Algerian buyers are not purchasing at the moment. In any case, traders' bids are at €425-430/mt FOB, a price range which Italian producers are not willing to accept.
€1 = $1,278