The Italian flat steel market is still facing difficulties. Following a period of slight decreases, prices are now on a sharper downtrend and have declined by €10-20/mt ($13-26/mt) in the last two to three weeks.
SteelOrbis has learned that Italian producers' flat steel base prices are at around €440-455/mt ($568-587/mt) for hot rolled coils (HRC), €515-520/mt ($664-671/mt) for cold rolled coils (CRC) and €490-500/mt ($632-645/mt) for hot dip galvanized (HDG) coils, all ex-works.
No change has been witnessed on the demand side, with demand still sluggish and not expected to improve. At the same time, according to sources, prices are unlikely to dip further. The downtrend experienced in the last 20 days is due to the negative sentiment in the global steel market, the crisis in Europe and the consumption slowdown in the Far East, resulting in strong skepticism about the future.
In the meantime, although the market was expected to be affected by Taranto-based producer Ilva regaining possession of its impounded steel stocks, many believe there will be no change in prices, since most of the products in question are semi-finished products and coils for further processing. According to market sources, the market is still influenced by low demand and by problems in collecting payments.
€1 = $1.29