As reported previously, there was a climate of confusion in the Italian domestic rebar market last week, as some producers increased their prices by €20-40/mt in an attempt to prevent further decreases. Such efforts have resulted in transaction prices within a range of €480-490/mt ($524-554/mt) ex-works this week, against the minimum price of €460/mt that was seen last week. While local demand is still weak, Italian steelmakers will take advantage of the upcoming Easter holiday to make production stoppages, and so local prices should hold steady in the short term.
€1 = $1.13