Italian producers' domestic rebar prices have now increased to the range of €445-465/mt ($507-530/mt) ex-works, up €25/mt ($29/mt) week on week.
In the meantime, demand in the domestic market remains weak, and so rebar prices are supported only by raw material prices, with scrap prices forecast to increase by up to €50/mt ($57/mt) in May compared with April prices.
Market sources also mention the possibility of a change in the price trend due to developments including decreases in Chinese billet prices.
Amid these current uncertainties, it is not clear whether Italian rebar producers will continue to follow the rising trend of scrap prices.
€1 = $1.14