In the Italian domestic market medium sized rebar prices are currently standing in the range of €340-350/mt ($472-486/mt) ex-works, excluding VAT, on actual weight and open account basis, indicating a €20/mt ($28/mt) increase compared to last week. The main reason behind this increase is the uptrend in scrap prices in Italy. While base prices are at €110-120/mt ($153-167/mt) ex-works, no sales have been heard at these levels.
On the other hand, the latest Italian rebar export offers have been at around the level of €330/mt ($458/mt) FOB for late July/early August shipment. However, the market is still silent and no sales have been heard yet.
€1 = US$1.3888