The Italian flat steel market has not yet indicated any recovery. However, local operators have the feeling that small efforts are being made to normalize the situation, as evidenced by the slowing of the downtrend of prices.
Sources consulted by SteelOrbis said that the strengthening of the euro against the dollar had contributed to the price decreases in recent weeks. However, domestic prices have been stiffening, remaining almost unchanged compared to a week ago.
SteelOrbis has learned that domestic producers' flat steel base prices are at around €420/mt ($552/mt) for hot rolled coils (HRC), €490/mt ($643/mt) for cold rolled coils (CRC) and €470-475/mt ($617-624/mt) for hot dip galvanized (HDG) coils, with HDG base prices at €460/mt ($604/mt) for the smallest sizes, all ex-works.
As mentioned above, the Italian producers in general seem to be holding on to current prices. The exception is represented by Taranto-based Ilva, which is trying to bring in cash by offering inventory at slightly lower prices. However, local demand remains very weak, and service centers in particular continue to compete with each other to grab the few available orders, especially if they are coming from creditworthy customers. Meanwhile, supplies of domestic operators continue to be at low levels, but very few of them are thinking of restocking for September.
€1 = $1.313