Italian rebar producers are still trying to raise prices in their domestic market. They are now asking for prices of €580-590/mt ex-works, down slightly compared to the €590/mt ex-works level they were targeting last week. However, transaction prices have not surpassed the €575/mt ex-works level yet. "We are struggling to regain the marginality we lost during March," one local producer told SteelOrbis, adding, "Unfortunately, demand is quite weak," also due to the fact that lots of local buyers replenished their stocks before the Easter holidays at lower prices.
Meanwhile, the export market has not provided a relief valve for Italian rebar producers yet. The reference price is still at $640/mt FOB. However, on one hand, demand is low, while on the other hand Italian producers are not very interested in selling in the current conditions. However, market sources stated that a few sales have been concluded to the Americas recently, for a total of 15,000-20,000 mt.