In the last 15 days, Italian domestic flat steel prices have generally remained stable, according to the latest survey conducted by SteelOrbis. Local operators - in particular, service centers - said the last part of July was satisfactory in terms of activity, not only as a result of the need to replenish stocks after a period of scarce purchases, but also because of positive signals recorded in some end sectors. Domestic service centers bought material for September and in some cases even for October, though still aiming to keep their stocks at relatively low levels. It remains to be seen whether this buying activity will continue, but, at least, after months of dejection a little more optimism is now seen in the market.
Also, domestic steelmakers do not seem willing to lower their prices. Accordingly, producers' flat steel prices have remained at previous levels, with their base prices at €430/mt ($570/mt) for hot rolled coils (HRC), €500/mt ($663/mt) for cold rolled coils (CRC) and €480/mt ($637/mt) for hot dip galvanized (HDG) coils, all ex-works.
Market players hope that the rebound in activity recorded recently translates into an actual improvement of the market situation and into a confirmation of higher prices at the end of summer. Nevertheless, uncertainty remains regarding the future prospects of the market due to the lack of confidence in the economic and financial system.
€1 = $1.326