Demand in the local Italian rebar market is still weak, but producers are trying to stop the decline of prices. Meanwhile, domestic rebar prices have continued their decreasing trend in the past weeks. Although the prices reached a minimum of €470/mt ex-works last week, starting from this week local producers are trying to fight back by refusing to grant lower prices and by offering a price of €500/mt ($575/mt) ex-works. However, according to sources, they are having a hard time in obtaining such a price. Accordingly, currently the most common price range is €480-490/mt ($552-564/mt) ex-works. Meanwhile, demand is not at satisfying levels in the export markets. Italian rebar sales by sea are few and limited to the US and Mexico, for which Italian offers have been at around €460-475/mt ($529-546/mt) FOB.
€1 = $1.15