Italian producers' average price for medium-sized rebar in their local market is currently at €325/mt ($351/mt) ex-works, €10/mt ($11/mt) less compared to one week ago. In the meantime, downstream demand remains weak, while the decrease in scrap prices has caused market players to think that rebar prices could soften further.
One positive development in the Italian market is the reduction of the inventories due to the resumption of shipments to Algeria, which had temporarily ground to a halt after the announcement of the 2 million mt limit set by the Algerian authorities on rebar imports for the current year.
€1 = $1.08