Italian rebar prices hit by slow demand, lower scrap prices

Thursday, 30 September 2021 15:02:18 (GMT+3)   |   Brescia
       

Rebar prices have decreased further in Italy in the past week, due to slow demand and the slump in local scrap prices. According to sources, prices have declined from €710-730/mt to €710/mt and lower levels. "It is already possible to get prices lower than €710/mt when decent volumes are involved," said one source, adding, "Customers are buying in dribs and drabs as they fear further price decreases, which are possible but not certain." This was confirmed by an Italian rebar producer, who said that sales are lacking and are not compensated for by export activities: "We have not been receiving requests for sales by ship," he said. Italian rebar export offers are at around €640/mt FOB, although most buyers are not willing to accept such a level. Algerian buyers, for instance, are asking for prices lower than €600/mt FOB, according to one trader.


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