Demand is still low in the Italian domestic
rebar market and Italian mills have reduced their
rebar prices by approximately €20-30/mt ($28-42/mt) as compared to last week to €520/mt ($723/mt) ex-works, on actual weight basis.
In the meantime, Italian mills'
rebar export offers are now standing at €505/mt ($702/mt) FOB on actual weight basis, compared to €505-510/mt ($702-709/mt) FOB last week. Due to the strength of the euro against the US dollar, inquiries made to Italian steel producers have lately decreased in number.
Italian
rebar mills' latest offers to
Algeria are at €535/mt ($744/mt) CFR, remaining unchanged as compared to last week. However, having sufficient
rebar stocks Algerian buyers do not seem in a hurry to start buying again. As SteelOrbis previously reported, last week Italian mills concluded
rebar transactions to
Algeria for a total of about 20,000 mt at an average of €505/mt ($702/mt) FOB for shipments in late November.
€1 = $1.39