Compared to one week ago, domestic flat steel prices have mostly been stable or have increased slightly in the Italian market, with hot rolled coil (HRC) prices at €540-550/mt ($675-688/mt), cold rolled coil (CRC) at €620-640/mt ($775-800/mt), and hot dip galvanized (HDG) coil at €635-645/mt ($794-806/mt), all ex-works. Market sources explained that prices have remained strong due to good local demand, reduced import volumes, and the low competitiveness of import prices.
Meanwhile, Italian producers are aiming to push HRC prices to the €560/mt ($700/mt) ex-works level for April-May deliveries. Accordingly, they are trying to reduce the gap between flat steel prices in southern Europe and those in northern Europe, where HRC is currently priced at around €555/mt ($694/mt) ex-works although northern European producers are already looking towards the level of €600/mt ($750/mt) ex-works for the second quarter.
€1 = $1.25