Prices in the local Italian flat steel market fall further
According to sources, flat steel prices in the local Italian market have decreased further during the past week. Hot rolled coil (HRC) base prices are currently at €480-490/mt ($538-549/mt) ex-works. Meanwhile, cold rolled coil (CRC) prices are at €580-600/mt ($650-672/mt) ex-works, while hot dip galvanized (HDG) prices are in the range of €610-635/mt ($683-711/mt) ex-works.
Not only weak demand in the local Italian flat market but also lower import offers have been putting pressure on to domestic prices. Market sources state that HRC import offers are generally at €450-460/mt ($504-515/mt) CIF Italy, and even at €435-440/mt ($487-493/mt) CFR for lower-quality material.
Meanwhile, distributors’ stocks are at high levels, and according to sources, local buyers will continue to be cautious as regards concluding new purchases in the coming weeks. Lastly, the main topic of discussion in the market is currently the sale of Ilva. Sources believe that this will have big repercussions on the local market in the coming months.
€1 = $1.12
*This was published on SteelOrbis website on May 31, 2017.