The southern European flat steel market is not expected to see increased activity or witness any price changes in the first week of the year, while it is thought that flat steel prices may start to increase next week throughout Europe.
In the Italian domestic market, hot rolled coil (HRC) base prices are currently standing at €460-470/mt ($598-611/mt), while cold rolled coil (CRC) base prices are at €540-545/mt ($702-709/mt), both ex-works. Flat steel demand in Italy continues to remain weak, while the price trend is foreseen to become clearer next week.
The Portuguese flat steel market has remained quiet lately. Domestic hot rolled sheet (HRS) prices of service centers in Portugal were at €590/mt ($767/mt) ex-warehouse before the New Year holiday. In the same period, HRC offers to Portugal from Italy and Spain were standing at the base price level of €480/mt ($624/mt) CFR.
On the other hand, the Bulgarian flat steel market witnessed some transactions before the New Year holiday within the scope of buyers' urgent needs, while Ukrainian producers' offers to Bulgaria for January production HRC were at $585-590/mt CIF. Next week, the CIS flat steel producers are expected to return to the market with new increased offers.
€1 = $1.30