Domestic rebar prices in Italy have declined further over the past week. While they were at €510/mt one week ago, they are now at €490-500/mt ($564-575/mt), all ex-works. Despite low demand, according to some market sources the sideways-to-bullish trend of local scrap prices may prevent further significant price decreases in the local Italian rebar market in the coming period. Meanwhile, Italian rebar producers are receiving better demand from their export markets. In the past week, some of them have closed sales to destinations such as North America and Cyprus at prices of €475-480/mt ($546-552/mt) FOB on actual weight basis.
€1 = $1.15