Despite stability in the scrap market in June, Italian longs makers expectedly have to cut prices in view of insufficientdemand at home and a slowdown in the export markets amid religious holidays.As domestic buying activity has not recovered in full after numerous holidays in May, official prices for rebar havedropped by EUR 15/t over the past three weeks, reaching EUR 155-160/t EXW base (EUR 430-435/t EXW for 12 mmB450C rebar). Prices are given without 22% VAT. “Demand is still low. June is usually a good month in terms of sales,but now the market is slow and prices are poised to dip further,” a representative of an Italian mill has commented toMetal Expert.
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