In the local Italian rebar market, domestic producers' prices have continued to increase, rising to €415-445/mt ($473-507/mt) ex-works, even though no deals have been concluded in the upper end of this price range.
The future prospects for the market are uncertain because, once the export market weakens due to Ramadan (this year starts June 6), most probably there will be extremely strong competition on prices in the Italian market, where demand is very weak.
On the export side, Algerian demand for Italian rebar is still good and the latest deals were closed in the range of €425-430/mt ($485-490/mt) FOB. Market sources mention the possibility that Italian producers will seek a €10/mt ($11/mt) increase in export prices for May and June deliveries.
€1 = $1.14