Local Italian flat steel prices rise sharply

In the local Italian market flat steel product prices have risen sharply, while price ranges are wider than usual as there is some confusion in the market over prices. It also seems that some sellers have temporarily stopped taking orders. In the coming weeks, the price ranges of domestic flat steel products are expected to narrow towards the top end of the range. In the meantime, actual demand in the local Italian flat steel market remains weak and prices are driven by the apparent consumption based on orders from distributors. Market sources speak of a positive sentiment which should last at least until the first quarter of next year, thanks to non-competitive foreign offers because of antidumping cases.
 
In the Italian domestic market, hot rolled coil (HRC) prices are currently at €470-550/mt ($494-578/mt), while cold rolled coil (CRC) and hot dip galvanized (HDG) coil prices are now at €590-660/mt ($620-693/mt) and €560-670/mt ($588-704/mt) respectively, all ex-works and excluding 22 percent VAT.
 
€1 = $1.05