Latest situation in local Italian rebar market

During the past week, Italian producers have reduced their domestic rebar prices by €10/mt on the lower end and by €5/mt on the upper end to €390-400/mt ($417-428/mt) ex-works due to stagnant demand. This is the first correction to the upward domestic rebar price trend which had started at the end of October amid the rising movement of scrap prices and good export order books. Market sources do not think there will be any significant price changes in the Italian rebar market before the Christmas holidays at least.
 
€1 = $1.07