Market sources have told SteelOrbis that recently Italian rebar producers have seen an increase in inquiries from Mexico and the US. Despite the possibility that Mexico and Canada may be exempted from the Section 232 tariffs and that the 50 percent duty on imports of Turkish steel may be adjusted back to 25 percent, US buyers are still facing high domestic rebar prices. Hence, they are interested in Italian rebar offers which are currently at €470/mt ($536/mt) FOB. Meanwhile, Italian producers have concluded rebar sales to the Republic of Cyprus in the past few days at prices €10/mt higher than the mentioned level, while this month they have also closed rare sales to Algeria at significantly lower levels than the price in question.
€1 = $1.14