Domestic rebar prices have increased by €10/mt in the Italian market compared to early August, i.e., before the summer hiatus. According to sources, they are now at around €400-405/mt ex-works. Demand has been described as stable and good, and market sources expect local prices to increase further in the coming period due to several factors: local scrap prices are expected to increase in September (by €10-15/mt according to most players), plus Italian long steel producers were able to sell decent volumes abroad recently. The main driver of the increasing trend though seems to be the fact that producers are willing to gain back the marginality they have not had in the past three months in favor of larger volumes.
As for the export market, sources reported that Italian producers closed their most recent sales at €390/mt FOB, with Mediterranean countries as destination. However, at least one producer is now offering material at €400/mt FOB with shipment in September. This price has not been accepted yet, but the same producer is in no hurry to sell.