Domestic rebar prices are increasing in the local Italian market. This week local producers are asking for €400-410/mt ($456-467/mt) ex-works, compared to last week's €390/mt. Transaction activity is still slack and so the only support is coming from the local scrap market, which is trending upwards. According to sources, Italian rebar producers are determined to obtain higher prices even though their sales are not at decent levels.
Meanwhile, rumors are mounting about an imminent release of import licenses in Algeria. This would be a very welcome development as it would allow Italian rebar producers to resume their exports to the North African country.
€1 = $1.14