In the Italian flat steel market domestic prices have been trending down since September, while it is widely believed prices are not far from reaching bottom levels. In terms of demand, the situation is not as positive as it appeared in September. Accordingly, overproduction is felt even more acutely in the market. Meanwhile, local service centers generally keep well-balanced supply levels.
Currently, domestic producers' base prices in Italy are at €280-285/mt ($308-314/mt) for hot rolled coils (HRC), at around €365/mt ($402/mt) for cold rolled coils (CRC) and at around €350-355/mt ($385-391/mt) for hot dip galvanized (HDG) coils, all ex-works.
Meanwhile, import offers from countries such as China are at €265-270/mt CFR ($292-297/mt) for commodity-grade HRC - not low enough to spark significant interest in import material.
€1 = $1.10