Following a progressive decrease in local rebar prices from €490/mt (640$/mt) to €470-480/mt ($614-627/mt) ex-works over the past two weeks, some Italian producers are hoping they will be able to bring their domestic rebar prices back towards the previous level. According to operators consulted by SteelOrbis, the week ahead will be a crucial week to gauge the firmness of prices. Nothing has changed in terms of demand, which remains very weak.
As for rebar offers from Italian producers to Algeria, in the last three weeks there has been a decline of about €20/mt. Prices are currently at €445/mt FOB, though there are even some lower offers. However, Italian rebar producers are struggling to sell to Algerian customers. The volumes held by Algerian customers are undoubtedly high. Italian market players are hoping for a recovery in the post-Ramadan period.