SteelOrbis has learned that in the Italian market domestic producers’ rebar prices are currently at €480-490/mt ($648-662/mt) ex-works. As reported by local sources, demand is at low levels and orders remain extremely scarce. Local rebar producers are not willing to lower their prices, while buyers are seeking discounts even though they are only willing to purchase very small volumes. The lack of willingness to compromise has contributed to the very low activity levels in the market.
The situation seems paralyzed in the export market too, since Algerian buyers - who still hold large stocks – are not buying and at the same time are asking for discounts. Not all Italian producers are offering rebar to the export market, but those who are offering do not meet Algerians’ price expectations, nor do they seem willing to lower their offers in the short term.
€1=$1.351