Italian producers' domestic rebar prices are currently standing at €335-345/mt ($369-380/mt) ex-works, for 12-28 mm rebar, while local demand remains slack.
Meanwhile, on the export side, foreign traders are asking Italian steel producers for rebar price levels of €290-295/mt ($319-325/mt) FOB, but the Italian producers will not accept such prices. Holding the view that their domestic scrap prices have not decreased sufficiently, they prefer to halt production, as they previously did in October. Meanwhile, market sources state that Spanish producers have decreased their rebar offers to the level of €330/mt ($363/mt) CFR Algeria.
€1 = $1.10