According to market sources, domestic rebar prices in Italy have trended sideways during the past week, remaining at €470/mt ($536/mt) ex-works. This week local rebar producers tried to increase their prices to €490/mt ($559/mt) ex-works, due to improved buying sentiment in the export markets and current predictions of a recovery in local scrap prices in February. However, domestic demand is still weak and so this price has not been absorbed yet. According to market sources, the situation will gain clarity when local scrap prices are settled for February.
€1 = $1.14