Latest situation in European flat steel market

Thursday, 23 February 2017 15:28:22 (GMT+3)   |   Brescia
       

Currently, domestic producers' flat steel base prices in the local European market are at €530-580/mt ($562-615/mt) for hot rolled coil (HRC), at €640-690/mt ($678-731/mt) for cold rolled coil (CRC) and at €630-690/mt ($668-731/mt) for hot dip galvanized (HDG) coils, all ex-works, although producers in northern Europe are officially asking €590-600/mt ($625-636/mt) ex-works for HRC. As reported previously, the prices at the higher ends of the above ranges are prevalent in northern Europe, while the prices at the lower end of the above ranges are prevalent in southern Europe. In the local Italian market, the most widespread prices of producers for HRC are in the range of €535-550/mt ($567-583/mt) ex-works, while their most widespread prices for CRC and HDG are respectively at €630-650/mt ($668-689/mt) and €640-660/mt ($678-700/mt) ex-works.
 
Italian producers aim to increase their flat steel prices in order to bring them in line with price levels in central and northern Europe, but at the same time they are being cautious because they do not want import offers to become competitive. In general, demand from end-users is not particularly good in Italy, except for HDG, where it is driven by the automotive sector. Meanwhile, Italian steelmaker Ilva has started to give quotations again after a few weeks of silence and is asking €550-560/mt ($583-594/mt) for HRC, €650-660/mt ($689-700/mt) for CRC and €680/mt for ($721/mt) HDG, all for May deliveries. Accordingly, sources think that Italian domestic flat steel prices will increase further in March.
 
€1 = $1.06

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