Rebar prices in the Italian domestic market have decreased slightly in the past week, although demand has weakened considerably. According to local sources, buyers are waiting for further price decreases or to witness a rebound of local scrap prices before deciding to resume purchases. Demand is also weak due to the slowdown of construction project activity during the Covid-19 emergency and consequent restrictions. Currently, rebar prices are at €570-590/mt ex-works, down €5/mt on average compared to last week.
At the same time, rebar producers are worried about the lack of export activities. "There's no demand," one trader commented, adding that this situation concerns Canada and the US and also the traditional Algerian market, "where local producer Tosyali has been offering rebar at highly competitive prices."