In the Italian flat steel market, base prices for coils have continued their stable trend this week. Hot rolled coils (HRC) are offered at €510-520/mt ($632-645/mt), cold rolled coils (CRC) are at €590-600/mt ($732-744/mt), while hot dip galvanized (HDG) coils cost €560-570/mt ($694-707/mt). All the above prices are ex-works. In the case of high volume orders, however, deals may be concluded at €10-20/mt ($12-25/mt) below these levels.
Flat steel demand in Italy has continued to remain slack. Nevertheless, according to market players consulted by SteelOrbis, prices should not fall any further, primarily because of the strength of the US dollar, but also because it is believed that any price decreases would not contribute to stimulating demand amid liquidity shortages and the debt crisis which has gripped the euro zone.
On the export side, last week an Italian steel producer sold HRC to the Turkish market at the base price of €490/mt ($608/mt). As regards imports, the situation remains stagnant, due to factors such as the lack of competitive offers, weak demand and the strengthening of the dollar against the euro.
€1 = $1.24