According to local sources, merchant bar prices in the local Italian market are currently at €10-20/mt ($11-22/mt) ex-works, indicating a €25/mt ($28/mt) decrease compared to a month ago amid the wait-and-see stance prevails the downstream market which is caused by the downtrend of domestic scrap prices and due to the slack demand.
A similar situation is reported for the export market, where demand is characterized by weakness and uncertainty. Italian merchant bar offers by the leading producer to other European countries are now at €10-15/mt ($11-17/mt) delivered to customer. The market looks livelier in the areas of Maghreb and Middle East, but in these markets merchant bar prices are lower because of the strong competition, and therefore considered not profitable by some exporters.
*In the Italian market, price extras can vary in the range of €410-610/mt ($455-677/mt) for domestic sales and in the range of €410-620/mt ($455-688/mt) for foreign markets, depending on dimension and product.
€1 = $1,11