Italian flat steel market players opt to purchase stock materials from ports

Wednesday, 26 January 2011 17:01:41 (GMT+3)   |  
       

Italian flat steel traders are reported to have opted for purchases of ex-stock material from the ports of Marghera and Ravenna in northern Italy, rather than booking imported material.
 
Last week, hot rolled coil (HRC) sales prices in Italian ports were standing at €580-590/mt ($788-802/mt) FOT. However, it is reported that this week some HRC sales have been concluded at €600-605/mt ($816-823/mt) FOT. Trying to avoid the risk of longer delivery periods, Italian buyers also prefer ex-stock materials for their more affordable prices, SteelOrbis understands. Meanwhile, the HRC base price of Italian steelmaker Ilva stands at €600-620/mt ($816-843/mt) ex-works.
 
While Turkish integrated steelmaker Erdemir has yet to announce its HRC export offers, offers from other Turkish flat steel producers stand at $800-820/mt FOB this week.
 
Meanwhile, SteelOrbis has learned from market sources that ex-Egypt HRC offers are currently standing at $800/mt FOB.
 
€1 = $1.36

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