After increasing by about €40/mt compared to late June levels, domestic rebar prices in Italy have trended sideways in the past week, remaining in the range of €420-430/mt ($500-512/mt) ex-works. Although demand in the local Italian rebar market is weak, domestic rebar prices have been supported by the rising trend of scrap prices and by the shortage of rebar in the market. Due to this shortage, some Italian producers have decided not to give offers until the end of the summer holidays, which will conclude in late August.
€1 = $1.19