In the first week of August, prices in the local Italian rebar market had reached the €440/mt ex-works level on the back of the rising trend of scrap prices and by the shortage of rebar in the Italian market. Last week, with the gradual resume of activities after the summer holidays, rebar prices reached €460/mt ex-works, while this week they have increased further to €480/mt ($572/mt) ex-works. According to market sources, Italian producers are motivating the ongoing increases with a significant increase of their production costs and rebar prices will likely continue to trend up in the coming days.