Domestic flat steel prices in Italy have decreased further during the past week. Currently, Italian producers' domestic hot rolled coil (HRC) base prices are at €530-540/mt ($615-626/mt) ex-works, while cold rolled coil (CRC) and hot dip galvanized (HDG) prices are at €610-620/mt ($708-719/mt) and €620-630/mt ($719-731/mt) ex-works, respectively.
According to sources at distributors, the price corrections have not been so significant in the past few weeks and do not represent a warning sign, though there is much more concern about the lack of downstream consumption. At the same time, imports are not an important phenomenon, as the only competitive offers are from Turkey and they are not attractive enough to have a real effect on domestic prices. The same sources do not foresee significant changes in the market situation in the coming period. Despite the low downstream demand, prices are supported both by the limited import activity and some lack of supply from the biggest European producer, ArcelorMittal.
€1 = $1.16