According to market sources, domestic producers’ prices in the local Italian rebar market have decreased by €15/mt to €495-505/mt ($584-596/mt) over the past week, as producers are no longer able to conclude deals at €515/mt ($608/mt) ex-works. However, due to the weakness of demand, only a few deals are being concluded in the given price range. Nevertheless, prices are not expected record significant declines due to high production costs, lack of material and since local scrap prices have trended sideways after the moderate decrease that was recorded in early October.
€1=$1.18