The situation in the local Italian flat steel market is still a bit confused in terms of pricing. Currently, hot rolled coils (HRC) prices are in the range of €460-480/mt ($515-5388/mt) ex-works, up €15/mt from last week. European mills, including Italian mills, are trying to raise their offers, citing higher raw material costs and production cuts. However, local demand is still weak mostly due to political uncertainties, namely Brexit and the European elections. So far, the price increases that were announced by ArcelorMittal in the second week of May have prevented further price erosion, but this does not seem to be enough for European mills, who are aiming to obtain an increase of €20-30/mt in order to extend their margins.
€1 = $1.12