Italian hot-dipped galvanised and cold rolled coil are increasing in contracts again, by as much as €100/tonne ($120) compared to the start of May. Hot rolled coil is meanwhile rising €30/t as tight supply persists, market participants tell Kallanish.
Domestic HRC contracts now start at €1,000/t base ex-works and go up to €1,030/t. While large buyers are purchasing indexed material at lower prices, producers have allocated most of their output until October and keep opening sales for limited tonnages and for a limited period of time.
Purchases on the import market are not frequent as Italy’s traditional suppliers such as India and Turkey are also quoting high prices. They open brief “sales windows” for a few hours while rapidly selling their spot allocations and then closing again.
A source says import offers may sometimes lag behind domestic increases and spot deals can be fetched for a time at competitive prices, “but all available material disappears in a matter of hours”, he concludes.
Meanwhile, CRC and HDG producers are also opening sales punctually for a limited time to sell material for spot contracts. Both products are being reported in Italy at €1,200-1,220/t ex-works, Kallanish hears. Ten days ago, HDG was sold in Italy at €1,100-1,120/t base ex-works.
Lead times stretch to October for HRC, CRC and HDG, but late deliveries are being reported.
Natalia Capra France
