According to sources, the recent increase in local scrap prices in Italy has pushed some Italian rebar producers to raise their offer prices this week. Currently, these producers are asking for €525/mt ($614/mt) ex-works, while other rebar producers have suspended their sales in order to gain more clarity. Meanwhile, others are still delivering rebar at the previous price levels, i.e., €485-595/mt ($567-696/mt) ex-works. However, all sources believe local rebar prices in Italy will rise in the coming period. Meanwhile, producer-exporters are still delivering to Algeria the material they had sold previously for December.
€1 = $1.17