Italian flat steel prices keep decreasing

In the Italian market, the prices of locally produced flat rolled steel have been trending down for a few weeks now. Over the last fifteen days, in particular, there have been rather pronounced declines, in the order of €20-30/mt. SteelOrbis has learned that hot rolled coil (HRC) base prices stand at a maximum of €500/mt, while cold rolled coil (CRC) prices are at €580-590/mt. Concerning hot dip galvanized (HDG) coils, the official price is €530/mt, but in reality there is confusion and some very different offers exist.
 
Prices might come down by some dozens of euro in the coming weeks. As predicted by Marcegaglia CEO Antonio Marcegaglia, prices should continue to decline until the end of the year. It is difficult to make medium-term forecasts, but everyone is hoping for a recovery starting from January.
 
Currently, the Italian situation reflects the dynamics at the international level: in particular, with factors such as declining raw material and finished product prices and the fact that purchases are few and in small volumes. Faced with the steady erosion of prices, buyers are not very inclined to place orders and end-user demand is very weak. In addition - as always, these days - there are concerns about the financial situation in Europe.