Italian rebar market expects further decline

Market sources indicate that Italian rebar prices are showing further declines throughout September this year. It should be noted that the price remained stable throughout August. The plunging scrap prices in the country, coupled with extremely poor demand for rebar, are cited by experts as the main reasons for the projected price decline.

No new orders have been booked during the past week, sources said. Buyers are looking forward to further fall in prices. Consequently, new orders are postponed indefinitely. The market situation is still weighed down by weak demand. The delay in new orders further exacerbated the market situation. Also, small buying activity was recorded during August.

The general weakness of the export of rebar from the European region to the North African direction, due to the reduced credit lines, led to the supply of products from these countries to the Italian market. The increase in the supply of valves from France and Spain has increased competition in the domestic valve market of the country.

Rebar exports to North Africa should resume after the traditional summer lull. New orders from Algeria are currently being delayed as buyers anticipate price reductions, which could fall further in line with falling scrap prices. Base prices for Italian rebar are currently € 400-410 per tonne ex-works.