Have local Italian rebar prices hit bottom?

Wednesday, 26 February 2014 17:56:26 (GMT+3)   |   Brescia
       

Local rebar prices have decreased again in Italy. Compared to last week, Italian producers' rebar prices for their domestic market have declined by €10/mt ($14/mt) to €450/mt ($630/mt) ex-works. According to sources interviewed by SteelOrbis, customers in the market have the feeling that the bottom may have been reached. For this reason, local rebar prices may have stopped declining and there could be a small improvement in buying activity in the coming period. At the moment, however, activity in the Italian rebar market is still very quiet.

The situation is not very different on the export side, where foreign buyers are still very cautious about concluding transactions. Italian producers are offering rebar at around €445/mt ($623/mt) FOB, while sources exclude the possibility of price decreases in the coming period.

€1 = $1.4


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