Latest situation in Italian flat steel market

Friday, 10 May 2019 18:02:11 (GMT+3)   |   Brescia

According to market sources, after ArcelorMittal announced a price increase on its flat steel prices, HRC, CRC and HDG prices have increased in the Italian domestic market.

It is not clear whether or when other local producers will follow suit, or if the higher end of the new price ranges will be absorbed, but sources have commented that ArcelorMittal is not willing to sell below €490/mt ($549/mt) for HRC, below €550/mt ($616/mt) for CRC, and below €560/mt ($627/mt) for HDG. As such, sources said the general price ranges are €470-490/mt ($526-549/mt) for HRC, €530-550/mt ($594-627/mt) for CRC, and €540-560/mt ($605-627/mt) for HDG, all ex-works.

It is unclear if the higher end of these ranges will stick, but all sources agree that prices will not decrease further below the previous levels. In fact, ArcelorMittal's move has the aim to prevent flat steel prices from further weakening in Italy and Europe and it is also due to higher costs faced by producers for CO₂ emissions reduction, and for iron ore.

1€ = $1.12

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