Flat steel product prices in the Italian and wider European market have continued their rising trend in the past week. Italian producers are seeking to cover their costs, while market sources state that the producers are trying to recoup losses which they incurred last year.
Domestic producers’ prices in the local Italian spot market are currently at €350/mt ($392/mt) for hot rolled coil (HRC), €410/mt ($460/mt) for cold rolled coil (CRC) and at €410-420/mt ($460-471/mt)for hot dip galvanized (HDG), all ex-works. HDG prices are now higher than CRC prices due to increased demand.
On the import side, Chinese, Russian and Turkish producers are offering HRC to Italian customers at €330/mt ($370/mt) CIF. However, Italian buyers prefer to work with local producers due to rumors of possible antidumping measures.
€1 = $1.12