Billet prices for rebar production in the local Italian market are currently at around €380-385/mt ($536-543/mt) delivered to rolling mill in northern Italy, on 60-day open account basis, excluding VAT.
The price level of merchant bars is around €10/mt higher than the above prices. Billet prices are at low levels in parallel with the long product situation in the Italian domestic market. Despite the high €/$ exchange rate, the domestic prices seem to be acting as a barrier against imports from the CIS and Turkey.