Billet prices in the local Italian market

Billet prices in the local Italian market are at Euro 370-375/mt delivered to customers' premises on open account basis, excluding VAT. Due to the billet shortage in Turkey and the CIS, offers given to Italy are currently at high levels. Offers from the Black Sea region for March are at $470-480/mt CFR. However, customers prefer to purchase domestic billet, which is almost at the same price as import billet, rather than wait for import billet that will be shipped in March. Domestic billet prices may increase further due to the reanimation of the rebar market and due to import billet pressure.