Demand is still very weak in the local Italian rebar market, as SteelOrbis has been informed by market sources.
Last week, local Italian producers considered that €315/mt ($356/mt) ex-works was the bottom price level for the market. However, in the last few days prices €10/mt ($11/mt) lower than this level have been seen. Besides low demand, the drop in scrap prices is the other main factor contributing to the downward trend of rebar prices.
€1 = $1.13