Italian CRC, HDG tick higher

Italian cold rolled and hot-dipped galvanised coil prices are continuing to tick up in both transactions and mill offers. Demand remains dynamic, although slightly quieter as the Christmas holiday break approaches and only ten days of work are left before winter stoppages start, market sources tell Kallanish.

Some sellers are still quoting end-February delivery, but others have filled order books quickly for the first two months of the year and are now quoting March lead times. The steep and quick transaction price increases registered in Europe for hot rolled coil, for which asking prices are now at €690-720/tonne ($745-777) delivered in Italy, have caused HDG and CRC to soar. Asking prices for both products are now at €800/t base ex-works.

Demand and higher sales volumes are also back for CRC, which is seeing limited availability. Some import transactions from Asian countries took place at €710-720/t cfr Italy. HDG imports remain unattractive and European mills are the only source of procurement.

Sellers report a good level of demand and prices also elsewhere in Europe, such as in the east of the continent and the Balkans. Italian HDG is being sold in Europe at €810-820/t base delivered. Domestic HDG prices are now at €780-800/t base ex-works. CRC is lagging behind in contracts, hovering at €760-780/t, sources suggest.

Natalia Capra France