After the end of the summer holidays, domestic rebar prices in Italy have maintained their downward trend due to low demand. While they were at €520-530/mt ($603-615/mt) at the beginning of September, domestic rebar prices have declined further over the past week, and are now at €510/mt ($592/mt), all ex-works. However, certain market sources report that some large customers are able to obtain a €10/mt reduction on prices.
The situation looks brighter in the export markets, where at least one Italian rebar producer has succeeded in selling several thousands of tons to the US in the past week. The price level in these sales is rumored to be €480/mt ($557/mt) FOB on actual weight basis.
€1 = $1.16