Prices decrease further in Italian rebar market

According to market sources, in the Italian rebar market local producers are struggling to sell 12-28 mm material at prices of €405/mt ($458/mt) ex-works, which compares to the range of €405-415/mt ($458-469/mt) ex-works seen one week ago. It is rumored that a few deals have been concluded at €5/mt ($6/mt) below the aforementioned price, while domestic demand remains slack and is having a hard time recovering despite the end of the summer holidays.
 
Meanwhile, Italian rebar offers to the export markets have decreased by €10/mt ($11/mt) in the past week to €360-365/mt ($407-412/mt) FOB, for October shipment. Activity levels for Italian rebar are still very low in Algeria also because of the strong competition from China.