SteelOrbis has learned that this week domestic rebar domestic have decreased further in the Italian market, falling below the level of €420/mt* ($533/mt) ex-works, compared to €420-425/mt* ($533-540/mt) ex-works a week ago. Faced with a chronic lack of orders, some mills have chosen to halt production.
Based on minimal sales, a lack of construction activity, the recent drop in scrap prices and the usual financial difficulties, sources say that the fourth quarter will be very difficult.
*For rebar with diameters of 14, 16, 18, 20, 22, 24, 25 and 26 mm
Note: Domestic base prices of Italian rebar producers are currently at around €155-160/mt . On August 1 this year, extras for dimensions increased from €245/mt to €260/mt for 14, 16, 18, 20, 22, 24, 25 and 26 mm diameters and from €250/mt to €265/mt for diameters of 12 mm and 28 mm.
€1 = $1.27