Italian rebar offers for Algeria

Italian mills are offering rebar to Algeria at €490-495/mt FOB for April and May shipments. After Mittal Steel Kriviy Rih's offers to Algeria rose to $550/mt FOB, the opportunities for Italian mills in this market may improve. Furthermore, the continuous increase in the Russian domestic market and the rise in Russian imports from Eastern Europe, especially from Ukraine, may cause Ukrainian mills to increase their prices next month. This situation may also boost the prospects for the Italian mills as regards contracts to be concluded in April. Mittal Steel Kriviy Rih is seeking higher prices from the Middle East and Eastern Europe. The Ukrainian mills are not making any hasty moves for sales since the market is strong in the CIS.