According to market sources, prices in the local Italian flat steel market have remained stable week on week, with hot rolled coil (HRC) prices are at €470-480/mt ($531-542/mt), cold rolled coil (CRC) prices at €550-560/mt ($621-633/mt) and hot dip galvanized (HDG) coil prices at €555-565/mt ($627-639/mt), all ex-works.
As reported previously, European producers, including Italian producers, increased their flat steel prices by €30/mt in early February as they believed that prices had reached the bottom. Although demand remains slack in the Italian market, especially due to the slowdown in the automotive sector, the price increases were supported by the rises seen in raw material prices and flat steel prices in the global market, and also by the increases in import flat steel prices. According to market sources, prices should be maintained at current levels in the coming weeks, unless raw material prices decrease rapidly.
€1 = $1.13