The Italian mills are offering medium size rebars to the local market at price levels of around €535/mt ($796/mt) ex-works, with two to three months open account, excluding VAT.
Due to the fact that the local Italian market has come under the influence of the upcoming April parliamentary elections, demand and consumption are considerably low at the moment. While the rebar base prices have been at €320/mt ($476/mt), it is possible to see rebar base price levels as low as €310/mt ($461/mt). However, the upward trends in the international markets may affect the local Italian market.
On the other hand, the Italian producers' export market is quite strong compared to the local market. They are already completely booked out for March production. The Italian producers, having last week concluded sales at the price level of €525/mt ($781/mt) FOB, are now targeting levels of above €530/mt ($789/mt) FOB.