According to market sources, domestic rebar prices in Italy have increased further over the past week, reaching €490/mt ($573/mt) ex-works from the previous level of €470/mt ex-works. Although domestic rebar demand in Italy is still low, Italian rebar producers' order books for the export markets are fairly full. This, together with the slight recovery of local scrap prices, has pushed them to increase their domestic prices. According to sources, at least one producer is now aiming to reach the level of €510/mt ($597/mt) ex-works.
€1 = $1.17