According to market sources, Italian rebar producers are still seeking to obtain higher prices in their domestic market. Although local buyers are currently receiving the rebar they had bought at €495-505/mt ($584-596/mt) ex-works, this week producers have started asking for €525/mt ($620/mt) ex-works. Due to the weakness of demand, it is unclear if the higher price will stick, but sources are rather optimistic in the view of factors such as high production costs, low availability of products and slightly higher domestic scrap prices.
Italian rebar export offers are still at €490-495/mt ($578-584/mt) FOB. According to market sources, Italian producers have sold decent volumes of rebar to Algeria and their order books are full until the end of this year.
€1 = $1.18