Italian rebar producers return to the market with higher prices

All Italian rebar producers have resumed production in the past week, although at a very low rate as they have to comply with the sanitary provisions dictated by government decrees and also given the low demand from end-users. Accordingly, transactions in the domestic market are very scarce and are for limited volumes. Local sources hope that demand may revive with the so-called "phase 2" of the Covid-19 emergency, i.e., likely from May 4, with a relaxation of the restrictive measures that will take place "on the basis of a well-structured and articulated plan," as announced by prime minister Giuseppe Conte today, April 21. As for prices, at the resumption of their activities local rebar producers have set a price level of €400-410/mt ex-works, which is €20-25/mt higher compared to March 6, just before the lockdown was imposed. Sources polled by SteelOrbis are not sure these price levels will be sustained in the coming weeks as demand may remain slack.