As demand in their own domestic markets weakens, southern European rebar producers have lately seen a drop in their transaction volumes locally. As of today, the major export market of southern European rebar producers is North Africa, and Algeria in particular. We see that important sales volumes have recently been concluded to this destination by rebar producers in southern Europe.
Export offers by Italian rebar producers have lately been at €510/mt ($724/mt) FOB levels, while export offers generally stand in the range of €510-515/mt ($724-731/mt)FOB.
Furthermore, another southern European rebar producing country, Spain, has been offering rebars for export in the price range of €500-510/mt FOB.
As demand continues to be received from Algeria for the time being, the last bookings from southern Europe to this market have been concluded at round €535/mt ($759/mt) CFR. New offers particularly by Greek and Spanish producers and traders to Algeria are currently in the range of €535-545/mt ($759-773/mt) CFR.
€1 = $1.419