The Italian mills are offering medium size rebars to the local market at price levels of €850-855/mt ($1,311-1,319/mt) ex-works, with two-to-three month open account, excluding VAT.
The latest base prices in the Italian domestic rebar market have reached €640/mt ($987/mt). In addition, it is expected that a further increase of €20/mt in the base prices will likely occur next week. The demand level is still weak and the favorable export situation of the Italian producers has been continuing to provide support for the market.
Meanwhile, the latest export deals have been at €830/mt ($1,280/mt) FOB and it is expected that the Italian producers will push for higher price levels.
€1 = US$1.54