SteelOrbis has learned that after the Christmas holiday some Italian rebar producers have started to return to the domestic market offering material at a price of €500/mt ($684/mt) ex-works. Nevertheless, no deals have been heard yet, while the actual market trend is only expected to gain clarity from next week on.
Meanwhile, some Italian producers have offered rebar to the export market at around €460/mt ($629/mt) FOB and have succeeded in concluding some deals. Italian producers' order books for January are considered to be full, since those who had not already closed their sales for the current month have managed to do so in recent days and are now giving the same prices for February. Currently, demand in the export market is not so lively, but, considering the strength of scrap prices, Italian rebar producers are not in a position to offer lower their prices.
€1 = $1.368