Billet prices for rebar production in the local Italian market are currently at €480-490/mt ($699-713/mt) delivered to rolling mill in northern Italy, on two to three month open account basis, excluding VAT. It is rumored that there are offers in the market at the price level of €500/mt ($728/mt); however, this had not yet been confirmed.
In line with the longs market in Italy, the local Italian billet market is also on an increasing trend. However, the Italian billet market is still not ready to accept import offers from the Turkish and CIS producers.