Italian producers’ domestic rebar prices are currently at €400-410/mt ($428-439/mt) ex-works, decreasing by €5/mt compared to €405-415/mt ex-works one week ago. According to market sources, the Italian domestic rebar market is still suffering from very low demand and also due to the current cold weather conditions. In recent days, the market situation has worsened because of negative perspectives concerning the local scrap market after the declines recorded in import scrap prices in Turkey.
Meanwhile, export activities of Italian suppliers are still suspended because market players are waiting for the renewal of rebar import licenses in Algeria, the most important export market for Italian rebar producers. This situation is expected to be resolved by the end of February.
€1 = $1.06