Billet prices in local Italian market

Billet prices for rebar production in the local Italian market are currently at a minimum of Euro 400/mt delivered to customers' premises on open account basis, excluding VAT, for March shipment. Billet prices in Italy have indicated a rise in line with the increase in long products. According to reports, CIS bookings have been concluded in Italy recently at $525-530/mt CFR. In addition, one cargo from South Africa has even been sold at slightly below these levels.