The situation has remained largely unchanged in the Italian rebar market in the past week. Local producers are still asking for a price around €400/mt ex-works, but that is "only on paper", according to a local source. However, transaction prices have risen compared to last week, from €380-385/mt ex-works to €385-390/mt ex-works in the latest orders.
Meanwhile, sources believe there will not be significant developments in the coming weeks due to the upcoming summer hiatus. In the longer term, activity in the local construction industry is expected to remain at reduced levels until the end of the year compared to the pre-pandemic period, although so far the situation in the domestic long steel market is better than in the flat steel market.
Italian producers were also able to secure good volumes in the export markets in June and early July, although more recently foreign demand has slowed down due to sufficient stock levels and the approaching Feast of Sacrifice holiday in some destinations.