According to market sources, flat steel prices in Italy have recorded further decreases in the past two weeks. Currently, Italian producers' domestic hot rolled coil (HRC) base prices are mostly at €480-490/mt ($547-559/mt) ex-works, down by €7.5/mt, while cold rolled coil (CRC) and hot dip galvanized (HDG) prices are at €570-580/mt ($650-661/mt) and €570-590/mt ($650-673/mt) ex-works respectively, decreasing by €5/mt and €10/mt, week on week. The declining trend has been attributed to the lack of demand in the downstream market in the past three months and also in part due to pressures from Turkish HRC offers and the recent decreases in international flat steel prices. However, due to the euro-dollar exchange movements, Turkish import offers are currently not very competitive in the Italian market, according to market sources.
€1 = $1.14