Domestic rebar prices have trended sideways in the Italian market in the past week, after decreasing in previous weeks. They are currently at €390-400/mt ex-works depending on customers and volumes. According to sources, the rebar segment in the steel market is the one suffering the most from the uncertainties caused by the second wave of Covid-19. Local buyers have become very cautious and are buying only what they need.
In the meantime, there has been some movement in the export market. According to sources, in past weeks Italian rebar producers have managed to sell about 50,000 mt of rebar to Algeria at €385-390/mt FOB. "Algerian buyers have been buying some material as they fear prices may increase," commented one source, adding that the international steel market is trending upwards, "so I don't think Italian rebar prices can decrease much further in the coming period." Market sources said that sales were closed to South America and Canada too, despite the ongoing antidumping investigation in Canada against ex-Italy rebar.