According to market sources, domestic
rebar prices in
Italy have trended sideways in the past week at €380/mt ($426/mt) ex-works. As reported previously, Italian producers had increased their domestic quotations because prices had fallen to the excessively low levels of (€350-360/mt ex-works) in late May. However, demand is still very weak and most buyers are still receiving the material they had bought at the previous price levels.
Meanwhile, there is no concrete news about the possible release of import licenses in Algeria. As a result, as reported in past weeks, Italian producers have been concluding decent sales to alternative markets. Sources have commented that this situation could become a "new normal" as Algeria is deliberately slowing down the release of import licenses in order to support the expansion plans announced by local producers, boost its own long steel production and thereby reduce imports.
€1 = $1.12