According to market sources, lower scrap prices in the Italian market have had an impact on the already-low levels of local rebar prices. Accordingly, local Italian rebar prices have decreased by €10/mt on the upper end to €400-410/mt ($428-439/mt) ex-works, compared to one week ago, with most transactions being traded at the lower end of this price range. Local demand is still very weak, while Italian rebar exports to Algeria, Italy’s main export market for rebar, are still blocked as rebar import licenses have not been released yet in Algeria.
€1 = $1.07