According to market sources, in the Italian domestic market local producers' prices for 12-28 mm rebar are currently at €405-415/mt ($446-457/mt) ex-works, compared to the price levels of €385-395/mt ($424-435/mt) two weeks ago. In fact, last week local producers made an attempt to raise their offer prices despite the low demand situation, as usually happens in the days before the beginning of the summer holidays. However, local buyers, who recently made some purchases at around €400/mt ($440/mt), are only expected to be return to the market after the reopening of activities at the end of August.
Meanwhile, Italian rebar offers to the export markets have remained in the range of €390-395/mt ($429-435/mt) FOB during the past week, for August shipment. Export activity levels are currently very low due to the traditional summer offseason.
€1 = $1.1