Rebar prices have softened in the Italian domestic market compared to January 10. Due to low demand, local producers have decreased their offers by €10/mt to €430/mt ex-works. However, they are agreeing to close sales at even lower prices, i.e., at €420/mt ex-works.
As for the export market, sources have told SteelOrbis that Italian rebar producers were negotiating a sizable sale to Canada recently. However, the decrease in import scrap prices in Turkey has kept buyers from closing any deal as they began to expect a decrease in Italian rebar offers. These have already been decreasing in the past ten days, going from €430-435/mt to €420-425/mt FOB.