After decreasing slightly in the previous two weeks, domestic rebar prices in Italy have increased again during the past week. While last week domestic prices were at €485-490/mt ex-works, now Italian producers are asking for €505-515/mt ($596-608/mt) ex-works, with the aim of consolidating prices soon at least at the level of €515/mt ex-works. Such increases, which contrast with the recent decrease in local scrap prices in Italy, are ascribed to the good rebar demand coming from Algeria, the scarce availability of rebar at producers, and the high costs of producers due to the lack of electrodes worldwide.
€1 = $1.18