Since early June, the European flat steel product market has undergone a price correction which has halved the strong increase in prices seen during the months of April and May.
Sources have told SteelOrbis that prices are now close to the bottom since competition from non-EU offers has disappeared and as market players are feeling better about the future.
In the meantime, Italian flat product producers' prices are lower than the average EU levels and now stand at €380-385/mt ($418-424/mt) for HRC, at €490-500/mt ($539-550/mt) for CRC, and at €480/mt ($528/mt) for HDG though for thin HDG sizes it is also possible to find a €450/mt ($495/mt)price, all ex-works.
Local demand for flat steel in Italy is stable at medium levels.
€1 = $1.10