Domestic rebar prices have decreased further in Italy due to low local demand and the declining trend of scrap prices. Currently, rebar prices are at €430/mt ($477/mt) ex-works on average, indicating a €5/mt decrease week on week and a €20/mt decline compared to late August. Meanwhile, export activities via sea are nonexistent, according to market sources.
Due to the instability of Turkish rebar offers, which keep trending down, there are no concrete negotiations. Buyers prefer to wait, as one producer explained. For the same reason, sources affirm that it is difficult to say what levels Italian offers are at the moment, although according to one source buyers are definitely looking at prices below the €440/mt FOB level.
€1 = $1.1