According to sources, domestic rebar prices in Italy have continued to decrease during the past week amid very low demand and also due to the downward trend of scrap prices this month.
Currently, Italian producers' rebar prices for their domestic market are in the range of €380-400/mt ($403-424/mt) ex-works, decreasing by €10/mt on the lower end compared to one week ago. Meanwhile, the delay in the renewal of rebar import licenses in Algeria is still responsible for a standstill in rebar export activities from Italy to this destination, thereby contributing to the weakness of Italian domestic prices.
€1 = $1.06