Local Italian rebar market moves down in December

Due to demand being at very low levels, Italian producers' domestic rebar prices have decreased by €10/mt on the lower end since the beginning of December to €380-400/mt ($399-420/mt) ex-works, excluding 22 percent VAT. Market sources do not expect a significant change in domestic rebar prices in Italy at least not before the end of the upcoming holiday period which ends on January 9, though they have not ruled out a possible price increase in the local Italian rebar market.
 
Since Algerian buyers have reduced their orders for Italian rebar and thanks to currency fluctuations, Italian rebar producers have also had the opportunity to sell to markets other than Algeria, closing transactions at €425/mt ($446/mt) FOB with some customers in the Middle East and North Africa (MENA) region who usually buy rebar from Turkish producers.
 
€1 = $1.05