Buyers are still very cautious in the Italian domestic HRC market, with most service centers buying only what they need. This has led to a further slight decrease in local prices, which are now at €440-445/mt, against the €445/mt recorded last week, both ex-works. As for the import market, in recent days there has been a rumor circulating about the purchase of a lot of HRC by an Italian tube producer from a Turkish producer at $475/mt FOB for April shipment, which should equal to about €450/mt CFR. According to one trader, the buyer had asked for a price of $465/mt FOB. The same source commented that the agreed price was good for the supplier. Considering this news and domestic prices, Italian buyers are not willing to pay higher than $475-480/mt FOB, SteelOrbis understands. The situation is somewhat better in northern Europe, where prices have not decreased from the previously-reported €470/mt ex-works level. Output reductions are still supporting prices, along with a better order situation, although local producers seem to have given up their aim of obtaining much higher prices, i.e., the €500/mt level that ArcelorMittal was targeting in mid-January. Generally speaking, market players do not have a clear idea about the future price trend in the EU HRC market. On the one hand, sentiment remains subdued due to the impact of the spread of the coronavirus, especially on iron ore prices. On the other hand, import scrap prices seem to have bounced back in Turkey, which should help avoid a significant decrease of Turkish HRC offers, according to sources. Most sources do not expect significant changes in the situation in the coming weeks.