Rebar transaction activity is slow in the Italian domestic market due to the beginning of the summer holidays. While rebar supplies are still low in the Italian domestic market, local rebar prices have remained unchanged at €540-550/mt ($772-787/mt) on actual weight basis, for deliveries to customer. In the meantime, Italian rolling mills' rebar offers to the export markets still stand at €510/mt ($729/mt) FOB on actual weight basis.
In Algeria, the major export market of Italian rolling mills, buyers are still making inquiries; however, they are not active in rebar bookings due to Ramadan. Nevertheless, Italian mills' rebar offers to Algeria still stand at €535/mt ($765/mt) CFR, though offers are scarce.
In the Spanish domestic rebar market, low market supplies and high transportation costs continue to keep domestic rebar prices firm despite low demand. Local rebar prices in Spain are still at €570-580/mt ($815-829/mt) on actual weight basis, for deliveries to customer. Spanish buyers are concluding some bookings, though in small tonnages, indicating that this price range has found acceptance in the market. In the meantime, Spanish mills' rebar export offers stand at €510-515/mt ($729-737/mt) FOB on actual weight basis.
In Portugal, rebar prices have remained unchanged again, while rebar demand is still very low.
SteelOrbis has learned that Spanish mills' rebar offers to Portugal still stand at €585/mt ($837/mt) on actual weight basis for deliveries to customer and for 60-day deferred payments.
Rebar demand in the Greek domestic market is very slow, due to the summer holidays. No improvement is expected in demand in the coming weeks. In the Greek domestic market, mills' prices for medium size rebar have remained unchanged at €540-580/mt ($767-823/mt) for 30-day deferred payments, delivered to customer, excluding VAT and on actual weight basis.
Rebar demand in Bulgaria is still at good levels, thanks to the continuing liveliness in the country's construction industry in contrast to other European countries. SteelOrbis has learned that domestic rebar prices in the local Bulgarian market still stand at BGN 1,010-1,020/mt ($737-744/mt) CPT on actual weight basis, exclusive of 20 percent VAT.
€1 = $1.43