Over the past two weeks, domestic flat steel prices in Italy have increased further, with domestic hot rolled coil (HRC) base prices increasing by €12.5/mt on average to €540-560/mt ($632-655/mt) ex-works and with cold rolled coil (CRC) and hot dip galvanized (HDG) prices increasing by €15/mt on average to €620-640/mt ($725-749/mt) ex-works. However, Italian producers are seeking to increase their HRC prices to €570-580/mt ($667-679/mt) and its CRC and HDG prices to over €650/mt ($761/mt).
Provisional safeguard measures in the EU, by limiting import activity, have had the effect of causing service centers and pipe producers to turn to European producers for their needs. The consequent lower availability of material has led to a reduction in the quotas offered by producers to their customers and, consequently, to an increase in prices. In addition, lead times have expanded - shipments for HRC are into October-November currently.
€1 = $1.17