While Italian rebar prices trended sideways from Easter to Labor Day holidays, they decreased in the past few days, going from the previous level of €480-490/mt ex-works to the current level of €475-480/mt (532-538$/mt) ex-works. Local demand is still very slack in the domestic market. In the past few days, also Italian producers' rebar export prices slipped due to the lack of demand. Their offers are now at €450-460/mt (504-515$/mt) FOB (theorical weight) for exports to North American countries, while they are at €460-470/mt ($515-526/mt) FOB (effective weight) for sales to Algeria. A source from a producer underlined that there was an increase in demand from Algeria since local producer Tosyali Algérie has halted its production. However, it resumed production this week, so the interest of Algerian buyers in rebar imports has subsided again.
€1 = $1.12