As anticipated at the end of last week, prices in the local European and Italian flat steel markets are trending upwards, due to good demand and also due to the low competitiveness of offers from third countries.
As for prices in the local Italian flat steel market, over the past week hot rolled coil (HRC) prices in Italy have increased by an average of €17.5/mt to €540-550/mt ($664-677/mt), cold rolled coil (CRC) prices have risen by €17.5/mt on average to €620-630/mt ($762-775/mt), while hot dip galvanized coil (HDG) prices have risen by €12.5/mt €630-640/mt ($775-787/mt), all ex-works.
In northern Europe, HRC transaction prices are mostly at €550-560/mt ($676-689/mt) ex-works, as compared to the €535/mt ex-works level that was recorded at the beginning of January. Market sources believe that prices will reach €570/mt in the coming period. The same sources said that lead times are being extended, and that both distributors and end-users are opposing less and less resistance to price increases.
€1 = $1.23