Having hit bottom at the beginning of July, flat steel prices in the local Italian market have since then continued to move on a rising trend. Domestic producers' hot rolled coil (HRC), cold rolled coil (CRC) and hot dip galvanized (HDG) base prices are now at €460/mt ($534/mt), €560-570/mt ($650-661/mt) and €580-590/mt ($673-684/mt) respectively, all ex-works.
In particular, prices have risen in the past week on the back of the proposal by the European Commission to adopt measures against imports of hot rolled flat steel coming from Brazil, Iran, Russia and Ukraine. Meanwhile, demand has increased slightly in the Italian market as distributors have been replenishing their stocks. According to market sources, domestic prices in Italy should increase further in the coming days, with HRC prices possibly reaching levels of €480-490/mt ($557-568/mt) ex-works.
€1 = $1.16