According to market sources, the local Italian flat steel market, like the European flat steel market, continues to suffer from weak demand with most local distributors adopting a wait-and-see stance and buying only in line with their needs. In Italy, domestic producers’ hot rolled coil (HRC) base prices have fallen by €10/mt week on week to €460-480/mt ($515-538/mt) ex-works, having also declined by the same margin in the previous week. Meanwhile, producers’ cold rolled coil (CRC) prices have decreased by €20/mt to €560-580/mt ($627-649/mt) ex-works, while hot dip galvanized (HDG) prices decreased by €32.5/mt on average to the range of €580-600/mt ($649-672/mt) ex-works, both compared to two weeks ago.
On the import side, market sources state that HRC import offers are generally at €440-450/mt ($493-504/mt) CIF Italy, down €10/mt compared to two weeks ago, and are even at €430/mt ($482/mt) CIF in some cases.
€1 = $1.12