According to market sources, rebar prices in Italy are still at €470-480/mt ($573-586/mt) ex-works, remaining stable over the past two weeks. Demand is still slack in the domestic market, though sources among local producers say that consumption is slightly better compared to the same period of last year. Meanwhile, in Italian rebar producers' traditional main export market, i.e., Algeria, demand for Italian rebar has remained absent.
Italian producers had recently continued to sell rebar to the US, with transaction prices at €485-495/mt ($592-604/mt) FOB on theoretical weight basis. Currently, sales activities to the US have been suspended because both suppliers and buyers are waiting for clarity regarding the Section 232 exemptions.
€1 = $1.22