As reported earlier this week, an Italian flat steel producer was aiming at a price level of €460/mt ex-works for hot rolled coil (HRC) as it was supported by good sales to northern Europe, as well as by expectations of scrap price increases in the Italian market in March.
Local sources reported that since yesterday the same producer is not accepting orders at a selling price below €460/mt ex-works. Transaction prices in the Italian domestic prices have increased slightly, from the previously-reported level of €440-445/mt to €445/mt on average, both ex-works. Meanwhile, there is a lot of talk about the possible impact of the spread of the coronavirus, both on logistics and the economy, and therefore on buying activities. However, this week local steelmakers underlined they have not experienced problems so far and that they are working as usual.