In the Italian flat steel market the situation is still anything but positive. The first 10 days of October, traditionally lively in terms of activity, did not give any satisfaction to local market players. The market continues to be stagnant, while prices are still under pressure. The sources consulted by SteelOrbis report decreasing sales, narrower margins and, consequently, fewer purchases; in other words, an apparently endless negative spiral. The forecasts for the remainder of the year are still pessimistic. Given the absence of market demand, the case of major domestic flat steel producer Ilva (prosecutors had ordered the shutdown of its blast furnace No. 1 to commence on October 11) has not had any real impact on prices. According to local market operators, there can only be a significant rebound in prices if there is first a recovery in consumption.
Currently, hot rolled coils (HRC) are offered at the base price of around €450/mt ($585/mt), cold rolled coils (CRC) are at €510-520/mt ($663-676/mt), while hot dip galvanized (HDG) coil prices are standing at €500/mt ($650/mt), all ex-works. In the last fifteen days, prices have decreased by €20-30/mt ($26-39/mt).
€1 = $1.30