There is a climate of confusion in the Italian domestic rebar market this week. While producers’ prices are mostly at €460/mt ($520/mt) ex-works, some producers are asking for increases of €20/mt and even of €40/mt. According to market sources, these producers are trying to underpin their prices in order to prevent them from falling to excessively low levels. As local demand is still very weak and as domestic scrap prices have decreased slightly this month, sources polled by SteelOrbis doubt that local rebar prices will actually rise, but at least they should not descend below €460/mt ex-works.
€1 = $1.13