Compared to June 4 when they were at €380/mt ex-works, rebar prices decreased further in the Italian domestic market to close to €360/mt ex-works late last week. Most of the latest transactions were closed at €370/mt ex-works. However, between last Friday and Monday Italian producers pushed their offers upwards to €400/mt ex-works.
According to market sources, however, no transactions have been recorded at this new price and it will take time to see if it will be accepted. The same sources said that the rise is due to the fact that raw material prices are still strong and that long product sales are relatively good compared to sales of other products. As for the export market, SteelOrbis has learned that Algerian customers are now asking for prices below €385/mt CFR, while Italian producers already considered such a level to be too low last week.