Just as in our report one week ago, the recent increases in domestic scrap prices in Italy have been pushing some Italian rebar producers to raise their offer prices. Currently, domestic producers' local rebar prices in Italy are at €500-515/mt ($590-608/mt) ex-works, i.e., €17.5/mt higher than two weeks ago, while at least one producer is targeting €525/mt ($620/mt) ex-works. Meanwhile, local demand is still weak, due to the cold weather and the approaching Christmas holidays.
€1 = $1.18