Domestic rebar prices have decreased by €5/mt in the Italian market in the past week and are now mostly at €400-410/mt ($444-455/mt) ex-works. However, sources have reported that some big customers have been able to pay €10/mt less for large orders. It is hard to say how local rebar prices will trend in the coming period. Domestic demand is still weak, though several sources believe prices could stabilize as local scrap prices seem to have taken a break from their decreasing trend. Meanwhile, the situation looks brighter concerning export activities. According to market sources, Italian rebar producers have been able to transact decent sales, especially to Algeria and Canada, at a price level of €390/mt ($433/mt) FOB for November and December shipments. Also in this case, some sources underline that lower prices have been achieved for big volumes, with the price falling to a minimum of €380/mt ($422/mt) FOB. However, at the moment Italian producers say there are no reasons for further price decreases in the coming period.
€1 = $1.1