The Italian mills are offering medium size rebars to the local market at the price level of around €525-535/mt ($768-783/mt) ex-works, with 60-day open account, excluding VAT.
The official base prices announced by Italian mills this week are at the level of €320/mt ($467/mt). However, it is possible to see base price levels as low as €310/mt ($453/mt) in the local market in Italy. Compared to the price level in January, prices have increased by €25-35/mt with the new base prices announced in the beginning of February. It would be difficult to say that there is plenty of demand for the price level in question. Buyers are purchasing small tonnages since they are uneasy with the rapid rise in prices. On the other hand, producers have stated that they may launch further price increases due to the strong situation of international rebar prices.
It has been heard that in the past week there were some deals at the price level of €515/mt ($753/mt) FOB. Italian rebar producers are also expected to increase their prices in the wake of the deals in questions.