Rebar prices in the local Italian market

Rebar prices in the local Italian market are at Euro 425-430/mt ex-works on open account basis, excluding VAT. The Italian market is still not active. Currently, the base price is at around Euro 265/mt. Mills are targeting a price level of Euro 440/mt for rebar sales in the local market. However, they have not yet reached this level. As regards exports, a price level of Euro 425/mt FOB has been heard. The fact that Ukrainian mills have hiked their prices by around $20/mt for the North African market, and that the US Dollar/Euro exchange rate declined from 1.33 to 1.29-1.30 levels, may enable Italian mills to sell their rebars in the North African market, which they gave over to the Ukrainians in December. If there is an increase in exports due to the above-mentioned reasons, this may have a positive effect on the Italian local market.