Domestic producers' local rebar prices in the Italian market have decreased by €10/mt ($12/mt) on the upper end over the past week to €415/mt ($473/mt) ex-works for 14-26 mm material. Demand continues to be very low in the local market.
The situation appears to be more dynamic in the export market, where Italian producers recently sold rebar at price levels of €415-420/mt ($473-479/mt) FOB. Now they are offering rebar at €420-425/mt ($479-485/mt) FOB for February deliveries, and have already been successful in attracting some orders. According to market sources, Algerian buyers are seeking to conclude purchases as their stocks are low and because they were unable to buy in volumes earlier as Italian and Spanish producers had not been offering rebar due to a lack of material. At present, just one major Italian producer is offering rebar to the Algerian market, while the other Italian producers have already sold all the material they had allocated for the export market.
€1 = $1.14