According to market sources, domestic rebar prices in Italy have mostly remained stable in the past week, in a range of €500-510/mt ($570-581/mt) ex-works. Despite the lack of domestic demand, Italian rebar producers have managed to prevent any significant decrease in prices in the past few weeks due to the lack of availability of certain sizes of rebar among their supplies. At the same time, local prices have been supported by the sideways trend of domestic scrap prices and also by the decent volumes of rebar sold to the export markets previously. However, market sources express doubts regarding the sustainability of current price levels, hinting at possible price decreases entering 2019.
€1 = $1.14