Southern European rebar market trends sideways

Rebar prices in southern Europe have been following a flat trend in the past week, due to the weak rebar demand throughout the region.
 
Italian steel mills' rebar export offers have continued to stand at €505-510/mt ($701-708/mt) FOB, with rebar demand remaining slow in both Italy's domestic and export markets.
 
SteelOrbis has learned that in the past week Spanish steel producers' rebar export offers have remained at €500-510/mt ($694-708/mt) FOB. However, following Spanish mills' latest rebar transactions to Algeria at €510/mt CFR, Spanish rebar offers to Algeria have this week increased to the level of €520-525/mt ($722-729/mt) CFR.
 
 In the Greek domestic market, steel producers have backed off their price increases announced in early February. Currently, Greek steel mills' domestic rebar offers are standing at €545-560/mt ($757-777/mt) for deliveries to customer, depending on payment terms.
 
On the other hand, while rebar demand has continued to remain quite slow in Bulgaria, domestic rebar prices are still at BGN 980-990/mt ($696-703/mt) for deliveries to customer.
 
European rebar producers are keeping a close eye on the Turkish mills' latest scrap bookings and will monitor whether new rebar price levels, adjusted with respect to scrap prices, will manage to find acceptance in the market.
 
€1 = $1.388