The situation has not changed much in the Italian rebar market in the past week. Although local producers are still aiming at a price around €400/mt ex-works, they are still completing the orders they had collected previously at lower prices, i.e., at €380-385/mt ex-works. As a result, no orders have been recorded yet at higher prices. An official at one long steel producer told SteelOrbis that demand is not strong although it is "in line with the current season," and that, although several producers will halt production activities in August, local scrap prices are not expected to gain strength. Accordingly, there is not much support for further price increases in the domestic market.
As for the export market, demand is stagnant as most customers are aiming to sell off their current stocks. However, Italian producers' rebar export offers have remained at the level of €390/mt FOB.
Meanwhile, the Italian wire rod market has trended sideways in the past two weeks. Local prices for drawing quality wire rod (SAE1006) are still at €425-435/mt delivered to customer. At the same time, offers are at €395/mt FOB in the export market, where demand is described as being "decent".