In the Italian domestic rebar market, the most recent domestic rebar prices in Italy were standing at €540-550/mt ($783-798/mt) on actual weight basis, for deliveries to customer. In Italy, the steel market has slowly begun to return from its summer holiday this week, while most producers are expected to resume operations next week. While demand and rebar supplies are low in the local Italian rebar market, Italian mills' most recent offers to the export markets were at €510/mt ($740/mt) FOB on actual weight basis.
In the Spanish domestic rebar market, domestic rebar base prices have softened by €10/mt as compared to last week, declining to €300/mt ($435/mt). While the summer holiday is also about to end in Spain, demand is still low in the Spanish rebar market. In the meantime, Spanish mills' rebar export offers are still at €510-515/mt ($740-747/mt) FOB, on actual weight basis. Although Algerian buyers are still making inquiries to Spain and have concluded some small volume transactions, they prefer to wait until the end of Ramadan. SteelOrbis has learned that rebar offers to the Algerian market are at €535-540/mt ($776-783/mt) CFR on actual weight basis
In the last days of the summer holiday, rebar demand in Portugal continues to be weak and domestic prices are following a sideways trend. Spanish mills' rebar offers to Portugal still stand at €580-585/mt ($841-845/mt) on actual weight basis for deliveries to customer and for 60-day deferred payments.
Domestic rebar prices in the local Bulgarian market have been revised upwards in line with regular demand, reaching BGN 1,015-1,025/mt ($748-755/mt) CPT on actual weight basis, exclusive of 20 percent VAT. Market players state that they expect demand to show further improvement by September.
In the Greek domestic rebar market, demand is still very low as the summer holiday period begins to draw to a close. In the Greek domestic market, mills' prices for medium size rebar have remained unchanged at €540-580/mt ($783-841/mt) for 30-day deferred payments, delivered to customer, excluding VAT and on actual weight basis.