The Italian rebar market has not yet roused itself from its summer holiday slumber. Domestic prices have remained stable compared to the beginning of August, i.e., at €750-760/mt ex-works, and it is not clear how they will move in the coming weeks. According to some players, the market appears weak, in other words, characterized by few orders and rising stocks. Furthermore, as already reported by SteelOrbis, mills are asking for price reductions for scrap, which could negatively affect finished product prices. At the same time, some sources said that rebar producers want to announce price increases in the coming period, "to limit the possible price decline or, perhaps, because they expect a recovery in demand by the end of the month," a trader explained.
Concerning wire rod, drawing quality wire rod (SAE1006) prices have continued to trend at around €850-860/mt delivered to customer. Meanwhile, ex-Algeria wire rod offers are coming at €710/t CFR with delivery in October. They are "€40/mt lower compared to the prices that the same suppliers were asking in July," a trader underlined. However, the EU safeguard quota for the July-September quarter has been exhausted since 19 August. Imports from Algeria are included in the "Other countries" category for which the quota totaled 82,000 mt for the period in question.