During the past week, flat steel prices in the local Italian market have remained stable, with hot rolled coil (HRC) base prices remaining at €480-495/mt ($562-579/mt), cold rolled coil (CRC) prices at €570-580/mt ($667-679/mt) and hot dip galvanized (HDG) coil base prices still at €590-600/mt ($690-702/mt), all ex-works.
According to market sources, demand in the local Italian flat steel market is quiet due to the summer season, while, as reported previously, the aim of Italian flat steel producers is to increase their HRC prices to €500/mt ($585/mt) in September. In the past weeks, flat steel prices in Europe have increased after the proposal of the European Commission to adopt measures against imports of hot rolled flat steel coming from Brazil, Iran, Russia and Ukraine, which has caused a decrease in the number of import offers in the market. Prices have also been supported by the increases in raw material and flat steel prices in the global market.
€1 = $1.17