According to sources, trading activities in the local Italian rebar market are still slow after the end of Christmas and New Year holidays. Local producers are still monitoring the market and waiting to decide their next move, while domestic rebar prices in Italy are generally at €505-515/mt ($611-623/mt) ex-works, i.e., virtually stable compared to pre-holidays levels. The general consensus, though, is that domestic rebar prices in Italy will increase in the short term due to higher domestic scrap prices, higher input costs and good rebar demand in the Algerian market.
€1 = $1.21