Very low demand, recent holidays and the blockage of
rebar exports from
Italy to Algeria are the main causes of the stagnation observed in the Italian domestic
rebar market. Domestic producers' local
rebar prices are in the range of €380-390/mt ($414-425/mt) ex-works, unchanged compared to last week.
According to market sources, Italian
rebar producers think that, considering the cost of scrap in
Italy, current
rebar prices are not profitable and in the current situation it is hard to plan ahead. Up to now, Italian producers have not stopped their production for long periods, but they may be forced to halt production operations for longer periods in May if
rebar exports to Algeria do not resume. Italian producers are now worried about the lack of news regarding the release of
rebar import licenses in Algeria, which, according to rumors, had been due in recent days.
€1 = $1.09