While last week domestic mills' prices of rebar in Italy had fallen to levels of €425-435/mt ($582-596/mt) ex-works, now there are rumors of an attempt by producers to increase local prices to a minimum of €445/mt ($610/mt) ex-works. According to sources interviewed by SteelOrbis, it will become clear in the coming days if domestic producers will have the strength and determination to impose such a price increase, as they continue to lack support due to weak local demand and the poor economic and financial situation in the country.
Meanwhile, due to the beginning of Ramadan, a further slowdown has been seen in export transaction activity to the Algerian market, which was already quiet before Ramadan.
€1 = $ 1.37