Italian and European flat steel producers are still trying to raise their hot rolled coil (HRC) and hot dip galvanized (HDG) prices by €10-15/mt ($11-17/mt). Producers' current price levels in the Italian market are standing at €290-295/mt ($325-330/mt) ex-works for HRC and €345-350/mt ($386-392/mt) ex-works for HDG. HDG is now suffering from oversupply more than other flat steel products, while downstream demand from service centers is still weak. These factors represent an obstacle to flat steel producers' attempts to raise their prices. Cold rolled coil (CRC) prices had already risen by €10-15/mt ($11-17/mt) last week, supported by the European Commission's decision to set provisional antidumping duties on imports coming from China and Russia.
€1 = $1.12