Italian steel producers have kept their domestic rebar prices unchanged at €460-470/mt ($599-612/mt) ex-works over the past two weeks, despite many difficulties in the market and poor sales. According to local producers consulted by SteelOrbis, local scrap prices in Italy are considered to have halted their downtrend. According to the same sources, domestic rebar prices may thus follow a stable trend in the coming period.
On the export side, it is noted that at the moment Algeria does not need any rebar. As a result, Italian producers think it is pointless to offer material to Algeria at present and they would prefer to stop production.
Several traders have been offering to buy rebar at around €420-425/mt ($546-553/mt) FOB from Italian steel mills. Although some deals have been concluded at €425/mt, Italian rebar producers are generally reluctant to accept such low price levels.
€1 = $1.301