According to market sources, flat steel prices in the local Italian market have decreased further during the past week. Hot rolled coil (
HRC) base prices are currently at €480-490/mt ($538-549/mt) ex-works. Meanwhile, cold rolled coil (
CRC) prices are at €580-600/mt ($650-672/mt) ex-works, while hot dip
galvanized (HDG) prices are in the range of €610-635/mt ($683-711/mt) ex-works.
Weak demand in the local Italian flat market and also lower import offers have been putting pressure on domestic prices. Market sources state that
HRC import offers are generally at €450-460/mt ($504-515/mt) CIF
Italy, and even at €435-440/mt ($487-493/mt) CFR for lower-quality material.
Meanwhile, distributors' stocks are at high levels, and, according to sources, local buyers will continue to be cautious on concluding new purchases in the coming weeks. Lastly, the main topic of discussion in the market is currently the sale of Taranto-based producer Ilva. Sources believe that this will have big repercussions on the local market in the coming months.
€1 = $1.12