The price level of rebar in the local Italian market is at around €450-465/mt ($614-635/mt) delivered to warehouse in northern Italy, on actual weight basis with 60-day open account, excluding VAT.
Italian domestic rebar prices are continuing to loose blood. Base prices, which were at €270-280/mt ($368-382/mt) last week, have fallen to €250-260/mt ($341-355/mt) this week. Rebar exports are also weak due to the high stock levels in the North African market. Furthermore, the fact that Ukrainian producers announced that they have reduced their August production prices may also create pressure on Italian export rebar prices, which are at €435-440/mt ($594-600/mt) FOB.