Market sources told SteelOrbis that domestic rebar prices in Italy are currently at €490-500/mt ($554-565/mt) ex-works, i.e., €10/mt higher than seven days ago. As reported previously, producers have tried to stop the decline of prices by proposing rises and by refusing to grant lower prices. However, they are having a hard time in getting orders as demand in the local Italian rebar market has remained weak.
Meanwhile, demand has weakened in the export markets. In the past week, Italian producers have tried to close further sales to the US, but the US market is slack as local buyers are now waiting for news relating to the possibility that Mexico and Canada may be exempted from the Section 232 tariffs and that the 50 percent duty on imports of Turkish steel may be reduced to 25 percent.
€1 = $1.13