After hitting bottom at €430/mt ex-works at the beginning of July, domestic producers’ hot rolled coil (HRC) base prices in Italy have started to move up and are currently at €460-470/mt ($538-550/mt) ex-works. According to market sources, producers are aiming to reach the level of €500/mt ($585/mt) ex-works by September.
The price increases seen in the domestic HRC market have been supported by the proposal of the European Commission to adopt measures against imports of hot rolled flat steel coming from Brazil, Iran, Russia and Ukraine. Moreover, the increases in Italy are also supported by global price increases and by the fact that Italian flat steel producers are well booked.
Meanwhile, the cold rolled coil (CRC) and hot dip galvanized (HDG) coil base prices of Italian producers are now at €560-570/mt ($655-667/mt) and €580-600/mt ($679-702/mt) respectively, ex-works.
€1 = $1.17