In this week's Italian rebar market, base prices have generally decreased by €10/mt to €260/mt ex-works. At the same time, offers are also found at €250/mt ex-works.
The situation is still worrying in financial terms, but sources consulted by SteelOrbis say that producers' order books have been filled for December. A slight recovery in prices is expected next month, aided by the fact that scrap prices appear to have reached the bottom.
On the export side, meanwhile, Italian producers' offers remain mostly at €490/mt FOB. However, one major Italian steel producer is experiencing strong sales in Algeria without going below €500/mt FOB in its offers.