Domestic rebar prices in Italy have decreased in the past week and are currently at €485-495/mt ($577-589/mt) ex-works, compared to the previous levels one week ago at €500-515/mt ex-works. Meanwhile, demand in the local Italian rebar market is very weak and is unlikely to improve as Christmas holidays are approaching.
Until this week, rebar prices had remained firm thanks to high production costs, low supplies and good orders obtained from Algeria. However, sales to Algeria have been completed and rebar import licenses will expire at the end of the year. It is unknown yet whether such licenses will be renewed rapidly at the beginning of next year.
€1 = $1.19