In the Italian flat steel market, quotations have remained unchanged from last week. Hot rolled coils (HRC) are still offered at €490-500/mt ($617-630/mt), cold rolled coils (CRC) are at around €570-580/mt ($718-731/mt), while hot dip galvanized (HDG) coil prices have remained at €540-560/mt ($680-706/mt), all ex-works.
According to sources consulted by SteelOrbis, the situation remains very difficult in the Italian flat steel market. Flat steel demand continues to be almost inexistent, with solvent customers few and far between. Domestic producer Marcegaglia's intention to raise its prices by €20/mt as announced last week represents an important signal and reflects the desire of Italian suppliers to see a return to acceptable margins.
However, there is still a lot of skepticism about the effectiveness of this move, and indeed further declines are feared in the short term. Meanwhile, Italian service centers continue to make some spot purchases in the local market. Import offers have not been attractive for several months, while, at the same time, the strength of the euro against the dollar has been hampering export activities to countries outside the euro zone.
€1 = $1.26