After the recent price increase that took the rebar base price to €150/mt ex-works (€350-360/mt including extras), rebar demand in the local Italian market seems to have taken a break.
The price increase for rebar, caused by higher scrap prices, does not seem to have been accepted by local buyers who prefer to stand back for the moment, even though they had already bought in certain quantities when the price was lower. In this situation, the mills have chosen to halt their sales activities.
In spite of the above situation, during the coming week a price increase by producers (perhaps of about €25/mt) is expected to be seen, though such an increase will be likely aimed at increasing room for negotiation, rather than representing the increase the producers actually expect to achieve.