Rebar prices are still strong in the Italian domestic market, due to low supply and also due to rising scrap prices. According to sources, demand has decreased in the past ten days as some construction sites are delaying their activities in the hope that prices will decline. However, most sources believe prices will remain firm in the coming weeks. Furthermore, according to the manager of a domestic rebar producer, "The slowdown of demand is normal, as customers ordered their materials late last month or early this month, and now they are taking their time to collect the purchased material." The same producer is now offering material at a price around €775/mt ex-works, although it is still delivering the volumes that were ordered previously at lower prices. The latest sales were closed at levels of €740-760/mt ex-works, up €5/mt on average compared to last week. Mills are well booked and have very low stocks.
As for the export market, Italian rebar producers' offers are at around €740/mt FOB, but a producer told SteelOrbis that this price is not working for sales by ship. Meanwhile, demand has remained strong across Europe and, combined with short supply and the lack of import options due to safeguard measures, it should keep supporting prices. Meanwhile, faced with rapid price increases, many customers are experiencing problems opening credit lines for purchases.