Hot rolled coil (HRC) transaction prices have indicated a further slight increase in Italy and are now mostly at €390-400/mt ex-works, versus €380-400/mt ex-works on July 14. Meanwhile, they have remained stable in northern Europe, i.e., at €400-410/mt ex-works.
As reported previously, demand has been slowly increasing in the past few weeks, although demand from the automotive industry in particular has remained subdued. Sentiment among local producers has remained bullish due to the lack of competitive import offers, though market sources doubt prices will continue to increase in the short term due to the approach of the traditional holiday period in Europe. The gap between prices in southern Europe and in northern Europe is now very narrow, which according to sources could push producers in the north to insist on higher prices or could exert downward pressure on prices in the Italian market.