The Italian domestic rebar market is slowly shaking off the summer lull; however new price levels are yet to become clearer. Since rebar demand is still sluggish in the Italian local market, market players state that rebar prices may see a downward correction in coming days. The most recent domestic rebar prices in Italy were standing at €540-550/mt ($781-795/mt) on actual weight basis, for deliveries to customer. In the meantime, Italian mills' rebar offers to the export markets stand at €510/mt ($737/mt) FOB on actual weight basis, remaining unchanged as compared to last week.
The Spanish rebar market is also returning slowly from the summer holiday and rebar demand in the country is still quiet, with buyers preferring to monitor the market price levels. Domestic rebar prices in Spain stand at €560-570/mt ($809-824/mt) on actual weight basis, for deliveries to customer.
The Algerian rebar market is calm due to the Ramadan holiday this week. However, Algerian buyers are expected to resume their rebar bookings in coming weeks. Spanish mills' rebar offers to the Algerian market are still at €535-540/mt ($773-780/mt) CFR, on actual weight basis.
In the Portuguese local rebar market prices have remained unchanged this week, standing at €580-585/mt ($838-845/mt) on actual weight basis for deliveries to customer. Rebar demand in Portugal is still low and the sluggishness of the summer holiday is still being felt in the country. Market players are expected to return to the market soon.
In the last days of the summer holiday, rebar demand in Greece continues to remain quiet. n the Greek domestic market, mills' prices for medium size rebar have remained unchanged at €540-580/mt ($780-838/mt) for 30-day deferred payments, delivered to customer, excluding VAT and on actual weight basis.
Rebar demand in Bulgaria is good, while it is expected to show further improvement in the coming weeks, as summer is about to end. Domestic rebar prices in the local Bulgarian market have been trending sideways at BGN 1,015-1,025/mt ($750-757/mt) CPT on actual weight basis, exclusive of 20 percent VAT.