Italian rebar producers are slightly euphoric because, although demand is still weak in the domestic market and non-existent in Algeria, they are supported by continuing inquiries from the export markets - especially eastern Europe, Lebanon and Cyprus, but they have also received some orders from the US, according to market sources. Thanks to the increase in customers, Italian producers are now targeting a price level of €490/mt ($568/mt) ex-works, while in the domestic market the €470/mt ($545/mt) level has been accepted in the past week, compared to the previous level of €455-465/mt ($528-539/mt) ex-works. According to sources, local rebar producers should be able to get to the summer stoppages without significant problems. Concerning the export market, the reference price is still €475/mt ($551/mt) FOB.
€1 = $1.16