The downtrend of domestic rebar prices in Italy may have come to an end. As there is a widespread feeling that local scrap prices have bottomed out, some Italian rebar producers are trying to increase their prices. In fact, in the middle of the current week, at least one producer increased its prices to €355/mt ($384/mt) ex-works for 12-28 mm rebar, while other producers kept their prices at €335/mt ($362/mt) ex-works.
Despite the timid rebar price increases that may occur in the coming days, sources believe that domestic and international scrap prices will not indicate significant increases until next year, and that the competitive billet offers coming from China are the main cause of this situation. As a result, it is thought that rebar prices cannot increase much in the medium term, as demand by itself is not strong enough to sustain an increasing trend of prices.
€1 = $1.08