During the past week, domestic rebar prices in Italy have increased by €10/mt, reaching €390/mt ($445/mt) ex-works. As reported previously, Italian producers had been aiming to increase their domestic quotations because prices had fallen to the excessively low levels of (€350-360/mt ex-works) in late May. However, demand is still very weak and most buyers are still receiving deliveries of products they had bought at significantly lower price levels. Nevertheless, sources think that further support for these latest price increases may come from the Italian scrap market, which may soon benefit from the recent increase seen in import scrap prices in Turkey.
€1 = $1.14