According to market sources, Italian rebar offers to the export markets have remained unchanged over the past two weeks in the range of €420-425/mt ($475-480/mt) FOB, while an ex-Italy deal to Algeria was heard yesterday, May 6, for 5,000 mt rebar at $418/mt FOB. Algerian buyers have accelerated their purchases since they believe prices will increase before Ramadan which this year starts on June 18.
On the other hand, Spanish rebar offers to the export markets have remained unchanged over the past two weeks in the range of €420-425/mt ($475-480/mt) FOB.
€1 = $1.13