According to sources, Italian rebar producers are offering material at a price of €510/mt ($627/mt) ex-works, i.e., €10/mt up on the lower end compared to last week. As reported previously, domestic rebar prices in Italy are being supported by higher scrap prices, and not by demand, which is still lacking in the domestic market.
As for the export market, demand for Italian rebar is still absent in Algeria. However, Italian rebar producers got good order volumes in Central Europe, also thanks to the expectations of better weather conditions, while according to sources one producer has sold rebar to Greece at slightly less than €500/mt ($615/mt) FOB recently. The same producer is offering rebar to Greece at €500/mt ($615/mt) FOB currently. While this is a competitive price compared to current domestic prices in Greece, sources say that the Greek market is not a big market for Italian producers. Meanwhile, the same producers are monitoring developments about EU and US negotiations regarding Section 232 tariff in order to know whether they will be able to sell to the US or not in the coming period.