According to market sources, domestic rebar prices in Italy have increased slightly over the past week to €485-490/mt ($553-559/mt) ex-works. Although local purchasing activities are still slack, domestic rebar prices have benefitted from good export sales concluded by Italian rebar producers in the past few weeks and from the recent strengthening of local scrap prices. Sources believe local rebar prices may increase further in March thanks to better domestic demand and a predicted increase in local scrap prices.
€1 = $1.14