As predicted last week, rebar prices continued to trend upwards in the Italian domestic market. Last week, local prices reached €620-640/mt ex-works by the middle of the week, then all producers suspended their sales. Starting from this morning, "almost all producers are quoting at around €700/mt ex-works," one local trader told SteelOrbis. As reported previously, previous prices were too low according to local producers, as their stocks have been scarce. Meanwhile, scrap prices have been increasing both domestically and globally, with prices reaching the threshold of $500/mt CFR in Turkey. According to some sources, buyers are puzzled, as local construction yards are still stuck, and contracts were closed at much lower prices fifteen days ago, i.e., €150/mt below the current levels. The same sources doubt the current situation is sustainable in the long term, although producers believe prices will continue rising as the imbalance between supply and demand is destined to continue.