Quotations in the Italian flat steel market, which had remained almost unchanged from mid-June, have decreased by €5-10/mt ($6-12/mt) in the past week. Accordingly, hot rolled coils (HRC) are offered at €485-490/mt ($592-598/mt), cold rolled coils (CRC) are at around €550-560/mt ($671-683/mt), while hot dip galvanized (HDG) coil prices are standing at €530-535/mt ($647-653/mt), all ex-works.
Rumors regarding imminent price increase announcements by ArcelorMittal and Ilva have now been discredited. Downstream there are still no signs of improvement and, in general, there are no factors likely to contribute to a price recovery. According to market players consulted by SteelOrbis, the outlook for the short-to-medium term is very negative. Flat steel prices could fall further in the coming weeks, but strong slumps in prices are excluded provided that there are no major negative macroeconomic developments. Meanwhile, stock levels in the Italian flat steel market are still low; buyers, however, are not in a hurry to replenish stocks at their warehouses for September. On the import side, the market is still at a standstill, with foreign offers not attractive at all when compared to local prices.
€1 = $ 1.22