Italian coil prices tick higher
Coil prices in Italy are seeing a gradual increase, primarily driven by the low volume of import contracts.
According to sources, hot rolled coil values have hit €590-600/tonne ($615-625/t) base delivered. Both buyers and sellers anticipate transactions will reach €620/t base delivered in February, Kallanish hears.
Hot-dipped galvanised coil is at approximately €670-680/t base ex-works on average. Producers are requesting prices in the range of €700-720/t delivered for the commodity grade.
Current lead times are for March and April; however, some quotes are still indicating the end of February.
Cold rolled coil existing contracts are trailing behind at €650-660/t base delivered. Competitive CRC import offers are exerting downward pressure on prices, reportedly in the range of €640-650/t cfr Italy.
One producer tells Kallanish he is asking for €730/t base delivered for HDG and €720/t for CRC. He says he is achieving these levels but only for small orders.
Both buyers and sellers concur that demand has been limited in January, and consumption continues to underperform as volumes are absent. While raising current prices may contribute to revenue, it is insufficient to achieve profitability.
Compared to pre-Covid, the €150/t spread between HRC and HDG is no longer sufficient. Given elevated energy prices and various high production costs, including HRC safeguard duties that steel importing processors have incurred in recent months, HDG levels should be in the range of €770-780/t delivered. However, the market is currently not approaching this benchmark.
“We are making small steps forward with prices. Increases are slow to happen but compared to the figures we had in December, we have achieved much better values considering that demand is at its lowest levels,” a producer comments.
Current demand from eastern Europe is the most robust within the EU; however, enquiries are also emerging from other locations, including Spain, France, and notably Germany, following a long absence, two sellers agree.
Italian demand appears to be subdued, as buyers acquired significant volumes both in the domestic market and through imports during November.
Natalia Capra France
Italian market lambasts lagging HRC contracts
Italian steel sellers are increasingly displeased by lagging index-linked contracts, particularly for hot-rolled coils (HRC) and derivative products, as they position for an upturn in prices on the back of constrained import supply.
Service centres are currently shunning spot purchases in favour of contractual index-linked volumes, to mitigate against rising spot prices. Some sellers have actively tried to move away from index deals in recent years where they have perceived them as lagging fair market value.
Argus‘ domestic Italian index, which tracks spot market movements on a daily basis, has risen by €18.75/t so far in January, and a total of €29/t since the start of December. The market reached bottom at the end of September-start of October period, when it came close to €530/t ex-works, and in the last quarter was cautiously moving up, driven by signals of tightening import trade measures, to which Italian prices are particularly reactive, given the exposure to imported coils.
And mills see prices increasing further on reduced import penetration caused by the European Commission’s safeguard review, the results of which are expected later this quarter. European steel association Eurofer has requested a 50pc cut in flat steel import quotas as well as a melt and pour clause on Chinese steel, to protect against global overcapacity.
It is not only sellers that are displeased with the lag in indices — buyers of coils said that while they see the spot market moving up, and therefore try to align their offers to end-users, they are unable to pass on the expected increase in costs.
Source: argusmedia.com
European HRC prices increase on continuing bullish sentiment at producers
Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at €586.25 ($610.27) per tonne on Friday, up by €5.00 per tonne from €581.25 per tonne on Thursday January 23.
The index was up by €12.50 per tonne week on week and by €21.25 per tonne month on month.
“Prices [in the region] are increasing. Mills are sold out for the first quarter of the year and only small volumes could be booked at €580-590 per tonne ex-works,” a distributor source based in Germany told Fastmarkets.
Mills in Northern Europe were heard offering HRC for the second quarter of the year at €620-630 per tonne ex-works or delivered, depending on the mill. In some cases, the material was offered even at €640-650 per tonne, industry sources told Fastmarkets.
Some small volumes were traded on Friday at €590 per tonne ex-works, Fastmarkets understands.
Buyers’ estimations for the workable market level were mainly at €580-590 per tonne ex-works.
At the same time, Fastmarkets calculated its corresponding daily steel hot-rolled coil index domestic, exw Italy at €580 per tonne on Friday, up by €2.50 per tonne from €577.50 per tonne on Thursday.
The index was up by €10.00 per tonne week on week and by €17.50 per tonne month on month.
The latest HRC offers heard in the Italian market were at €610-620 per tonne delivered, which would net back to €600-610 per tonne ex-works, Fastmarkets understands.
But no major deals were heard in the market.
Fastmarkets’ sources estimated the workable market level at €570-590 per tonne ex-works.
Italy’s industry seeks help with high energy prices
The Italian association Confindustria — which represents manufacturing and service companies in the nation, including steel producers — distributed an appeal to the parliament and the government on Thursday, asking for support with high energy prices.
The association said that the high energy costs were making the domestic industry system more unsustainable, and local companies were at risk for collapse.
According to the association, the current energy prices in Italy were 38% higher than those in Germany and 72% higher compared with those in Spain.
The association referred specifically to the high costs of energy produced from renewable sources and energy produced from natural gas. According to the association, legislative amendments were necessary to provide an allocation of energy from renewable sources but decoupled from the total price of the energy mix in Italy.
According to data from Gestore dei Mercati Energetici (GME), a state-owned company managing the electricity and natural gas markets in Italy, the electricity price in Italy’s energy exchange reached €177.94 per MWh on January 24, 2025, compared with €128 per MWh on the same day a year earlier.
Outstanding European coil contracts could see higher prices
Northwestern European coil buyers that are still in the process of bargaining for long-term supply contracts with steelmakers might end up with higher prices than agreed-to so far, with the major car brands, for instance.
According to one mill manager, upcoming agreements could see somewhat higher prices than those struck previously, as spot market prices have proceeded climbing slightly since December. The difference will not be massive, as the upward trend proceeds slowly. Mills are still struggling to obtain close to €600/tonne ($630) ex-works for hot-rolled coil, with €620/t called as the new target by at least one mill.
Whilst the spot price is certainly a factor in the negotiations, the main indicator is the prices resulting from the previous year’s talks, the same manager emphasises. Long-term supply relationships involve services and reliability and therefore work differently than the spot market, which is very much influenced by the pricing of imports. As a rule of thumb, contract prices can be €100/t higher than spot prices.
Compared with the contracts signed one year ago, prices accepted so far in January are €60-80/t lower, Kallanish hears from sources at mills, automotive suppliers and service centres. One experienced independent observer expressed doubts though. He says the reductions were greater, closer to the €100/t mark.
“The people I talked to signed at a year-on-year reduction of between €85 and €95,” he says, adding he has not heard of deals at minus-€70 or less.
Other than the parties involved, that source offers a concrete figure for the outcomes, which he says were at €650/t for HRC. And, he says mills aim to reach closer to the €700/t mark in annual contracts that are still outstanding.
Christian Koehl Germany
European buyers still reluctant to accept higher HRC offers
In general, offers from other integrated mills in the region were heard in the range of €620-630 ($642-652) per tonne ex-works or delivered. Most producers heard to be offering April lead times already, however, several buyer sources said that some producers still could do March deliveries.
Market participants pointed out that domestic HRC prices have recovered from the lower levels observed in the fourth quarter of 2024, but mills target offers were “unrealistic” considering subdued demand.
Most sources estimated the tradable market level to be at €570-590 per tonne ex-works on Tuesday.
“Demand is still not strong enough to back up €600 + [HRC] prices. The mills have to reduce output to make [a price increase] work,” a buyer source told Fastmarkets.
Market sources told Fastmarkets that the price rise mills were pushing for was not demand-driven, adding that mills were hoping that the EU’s trade policies will support domestic markets.
“We have safeguards in review right now, we have [an] anti-dumping probe, we have Trump in the US [presidential] office and [we are] bracing for even more protectionism globally. Importing steel gets increasingly inconvenient – you don’t know what the cost will be,” a second buyer said.
Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at €577.50 per tonne on Tuesday, up by €2.50 per tonne from €575.00 per tonne on Monday.
The index was up by €4.17 per tonne week on week and by €12.50 per tonne month on month.
At the same time, Fastmarkets calculated its corresponding daily steel hot-rolled coil index domestic, exw Italy at €573.75 per tonne on Tuesday, up by €3.75 per tonne from €570.00 per tonne on Monday.
The index was up by €3.75 per tonne week on week and by €13.75 per tonne month on month.
Offers in Italy were heard at €610-620 per tonne delivered, which nets back to around €600-610 per tonne ex-works.
But these offers have not been accepted by buyers so far.
Market participants estimated the tradable market levels for HRC in Italy in the range of €570-580 per tonne ex-works.
Import offers of HRC to both Northern Europe and Italy remained limited on Tuesday. According to sources, this was due to the pending safeguard measures review.
From Turkey, one supplier was heard offering €580-590 per tonne CFR. But for tonnages of 10,000 tonnes and higher, it was possible to get €560-570 per tonne CFR, several sources said.
From Asia, offers were heard at €560-570 per tonne CFR for HRC arriving in April.
EU sees more steel HRC imports from Turkey, Ukraine in 2024 as Asian suppliers lose positions
Some suppliers, however, such as Turkey and Ukraine, managed to benefit from the situation by being the safest choices for HRC imports into the EU, while some Asian suppliers appeared to lose their positions in the European market, according to data from the Global Trade Tracker (GTT).
Hot-rolled coil is used mainly in the automotive industry and the construction sector. Total imports into the EU came to 8.43 million tonnes for the period January-November 2024, GTT data showed, with the statistics for the full year not yet complete.
Compared with the corresponding period of 2023, this represents a decrease of 6.77% from 9.04 million tonnes.
Imported volumes of HRC were 9.24 million tonnes for the full year of 2023, with the peak for the five years 2020-24 seen in 2021, when imports totaled 10.28 million tonnes.
Before the Russian invasion of Ukraine in February 2022, Russia was among the main suppliers of HRC to the EU, exporting 1.71 million tonnes of HRC in 2020 and 2.24 million tonnes in 2021. These volumes started to decrease after the invasion and were stopped completely after the EU imposed trading sanctions against Russia.
Consequently, Russia’s share of HRC imports into the EU was gradually taken up by other supplier sources, such as India, Taiwan, Japan, Vietnam, Egypt, South Korea and Indonesia, which have been offering competitive prices to the European market.
In 2022, some suppliers managed gradually to increase their deliveries to the bloc, with the difference between domestic HRC prices and imported prices having reached almost €100 ($103) per tonne.
For example, Fastmarkets daily steel HRC index, domestic, exw Northern Europe, averaged €907.20 ($933.66) per tonne in June 2022, while the corresponding assessment for steel hot-rolled coil, import, cfr main port Northern Europe, averaged €816.00 ($893.80) per tonne in the same month. The difference was €91.20 ($93.86) per tonne.
This trend continued in 2023, allowing some overseas suppliers to secure a bigger market share. For example, in 2023, HRC deliveries from Vietnam totaled 1.15 million tonnes, almost a threefold increase from 406,045 tonnes in 2022.
This tendency, however, has triggered a series of protectionist measures by the EU to safeguard its domestic steel sector. The European Commission started to impose tougher safeguard measures, launched an anti-dumping investigation into several HRC origins, and announced a new review of safeguards.
Stringent protectionist measures were also sought by the European steel industry.
As a result, in August 2024, the European Commission announced an anti-dumping investigation into HRC originating in Egypt, India, Japan and Vietnam.
Further, the Commission announced a new steel safeguard review in December 2024.
The latest review of the safeguard measures only came into force on July 1, 2024, with the introduced 15% cap per country over the tariff rate quota (TRQ) volume initially available in each quarter, for HRC and steel wire rod in particular.
With the implementation of the 15% cap per country over the TRQ, each nation under the category “other countries” is supposed to supply no more than 555,555 tonnes per year of HRC to the EU. This resulted in rapid exhaustion of some countries’ quotas in 2024, with the same trend now being seen in the first quarter of 2025.
If the total awaiting allocation (see table below) exceeds or even approaches the amount available for use under the TRQ, this should be taken as an indication that the quota will soon be exhausted, according to the European Commission.
Protectionist measures intended to support domestic prices
The year 2024 turned out to be a challenging period for the European steel industry, with low demand from the main steel-consuming sectors inhibiting the market.
In addition, some leading automotive companies in the region admitted that they were planning significant output cuts, which would inevitably affect the HRC market, Fastmarkets understands.
As a result, HRC prices in Europe have dropped to their lowest since 2020. Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe, averaged €549.25 per tonne in October 2024.
During the period 2020-24, lower prices were seen only in 2020, when the Covid-19 crisis brought significant uncertainty to the market.
Despite the slight price improvement in the final two months of 2024, sluggish demand would probably hinder a more significant price rebound in the first months of this year, industry sources told Fastmarkets.
But all protectionist measures were expected to put a further limit on the availability of imported HRC in the EU this year, and in this way support the domestic prices.
Turkey, Ukraine still among safest options
With the EU safeguard measures suppressing the incentives to buy overseas-origin coil, Turkey and Ukraine turned out to be among the safest trading partners from which to buy HRC.
According to GTT, the HRC volumes imported from Turkey into the EU reached 1.21 million tonnes in 2024, a huge increase of 85.40% compared with 2023, when imports from Turkey came to 653,311 tonnes.
But 2023 could not be considered representative for Turkish HRC supplies to the EU, due to the two massive earthquakes in the Middle Eastern country in February of that year, which affected the south of the country. Some of Turkey’s leading flat steel manufacturers are located in this region and they were forced to stop production at the time.
Besides, the region affected by the earthquakes needed reconstruction and, after the Turkish mills resumed operations, they were less focused on exporting to the EU, and more on covering the domestic demand. Turkey even postponed some protectionist measures to facilitate the imports of flat steel products.
The disruption to steel supplies from Turkey as a result of the earthquakes led to more HRC supplies coming into the EU from Asian partners.
https://dashboard.fastmarkets.com/a/5117411/
GTT data also showed that, in 2022, exports of Turkey-origin coil to the EU reached 1.20 million tonnes, a volume close to that of 2024. But despite the fluctuations, Turkey has been gradually increasing its HRC supplies to the EU.
Ukraine also increased its exports of HRC to the EU last year, with the total volume reaching 997,985 tonnes. Compared with 722,653 tonnes in 2023, this was an increase by 38.10%.
In 2022, when Russia invaded Ukraine, the nation’s HRC exports to the EU amounted to 509.934 tonnes.
India stable, but other Asian partners lose positions
Despite the trade risks and safeguard measures, India remains Asia’s main importer of HRC into the EU, GTT data shows. From January to November 2024, the volumes imported from the nation reached 1.37 million tonnes, up by 16.96% year on year.
Other Asian trading partner nations, however, did not report such results. For example, the amount of HRC imported from Taiwan was 897,031 tonnes for the first 11 months of last year, down by 27.77% compared with the same months of 2023.
A similar trend could be observed for HRC imported from Japan, which totaled 837,169 tonnes for the period from January to December last year, a decline by 23.17% year on year.
The total volume of Vietnamese HRC imported in January-November 2024 was 701,461 tonnes, down by 39.09% compared with the previous year.
Imports of HRC from South Korea to the EU were also down over January to December last year, reaching 575,386 tonnes, a decline by 38.81% compared with 2023.
Russia struggles to find export destinations
With the implementation of the European sanctions against Russia, exporting HRC to Europe became impossible.
In addition to countries and companies rejecting Russian steel exports, the prices achievable in the few countries that were still willing to do business with Russia have continued to fall, industry sources told Fastmarkets.
Russia was also struggling with weak domestic consumption, they added, which put additional pressure on its steel sector.
European HRC buyers stay on sidelines in uncertain market
Uncertainty over the future price direction, economy, and political instability in Europe and globally continued to keep buyers on the sidelines.
“Mills are certain they can get higher prices [for HRC] because of reduced imports. But this [import shortage] alone is not enough – the core market fundamentals have not changed and demand is still slow,” a buyer in the Benelux area said.
First-tier mills in the region were largely sold out for February and even March-delivery HRC, according to sources. Although March lead times were still available at some suppliers.
“Before Christmas, a lot of customers bought [HRC tonnages] to secure lower prices,” a second buyer told Fastmarkets. “Some buyers are inquiring about April delivery already, but mills are holding back offers for the second quarter – [there is] too much uncertainty.”
Achievable prices were estimated by sellers at €580-590 ($598-608) per tonne ex-works and at €550-580 per tonne ex-works by buyers.
But producer sources confirmed that the lower end was no longer available. At the same time, offers at €610-630 per tonne ex-works, voiced by a few suppliers at the end of December, had not yet been sealed in deals.
“We don’t get orders at these levels [€610-630 per tonne],” a mill source said.
Italian coil with March delivery was offered to Germany at €610-630 per tonne delivered. A source pointed out that end-of-February delivery was still possible from a supplier, however.
Sources reported some minor-tonnage transactions for such material at no higher than €580-600 per tonne delivered during the week.
A reroller in Northern Europe was offering HRC with March lead times at €580 per tonne ex-works.
Fastmarkets calculated its daily steel HRC index domestic, exw Northern Europe at €565.42 per tonne on Friday, down marginally by €0.83 per tonne from €566.25 per tonne the previous day.
The index was up by €0.42 per tonne week on week and by €4.59 per tonne month on month.
Long-term contracts for the first half and full year of 2025 were sealed with a €60-80-per-tonne discount compared with 2024 levels, sources said, which was “a good outcome for the mills,” a trading source said.
“When negotiations started, automotive [original equipment manufacturers] were asking for a triple-digit discount, so mills can be happy with what they got,” a distributor in Norther Europe told Fastmarkets.
Some contracts for the first half of 2025 were heard done at €650-670 per tonne, compared with €730-750 per tonne from the second half of 2024, sources said.
Meanwhile, in Southern Europe, Fastmarkets calculated its daily steel HRC index domestic, exw Italy at €562.50 per tonne on Friday, unchanged from a day earlier.
The index was flat week on week, but up by €3.50 per tonne month on month.
Local integrated mills were offering HRC for delivery in the first quarter at €580-620 per tonne delivered, which nets back to €570-610 per tonne ex-works.
Buyer estimations of achievable levels were reported at €550-570 per tonne ex-works, depending on the supplier.
Sources expect more clarity on the market situation in the coming weeks, when more market participants come back from holidays.
The market for imported coil has been quiet in recent weeks due to numerous trade restrictions in place, long lead times and uncompetitive prices.
Offers of imported coil were limited in the week to Friday. Turkey was heard offering HRC to Italy at €560-570 per tonne CFR, including the anti-dumping duty.
Indian-origin coil was on offer to Italy at €540-550 per tonne CFR, industry sources told Fastmarkets.
An offer from Indonesia was reported at €550 per tonne CFR.
Most suppliers were offering March shipment.
Buyers estimated workable levels for imports at no higher than €520-540 per tonne CFR.
EU HRC prices rise despite low demand
Domestic European hot-rolled coil prices rose Jan. 10, with no major changes in demand reported since the start of the year. Market participants are cautiously optimistic about potential positive developments in the coming days, although the overall sentiment remains of wait-and-see.
A Germany based service center source noted that while there have been no significant changes in demand, there is expectation of positive developments over the next few days.
Similarly, a German buyer pointed towards steel producers continuing to attempt to increase price levels but noted minimal interest from the wider market.
An Italy based mill source echoed this sentiment, stating that the market remains stable with no big changes.
Tradable values for HRC were reported at Eur570-590/mt ex-works, with larger tonnages trading at Eur560-570/mt and smaller tonnages at plus Eur580/mt.
A South European distributor source mentioned workable prices for February delivery remaining similar to January’s closing levels at Eur570/mt for HRC and Eur670/mt for CRC base ex-works.
Platts assessed North European HRC prices at Eur570/mt ex-works Ruhr, up Eur10 on the day. Similarly, Platts assessed Southern European domestic HRC prices at Eur570/mt ex-works Italy, up Eur10 on the day.
“There are few import offers and they are not appealing due to the [minimal] price gap with domestic levels, alongside long delivery times, and potential risks of duties,” the South European distributor said.
The source also referred to continued foreign exchange rates adding additional pressure to the market.
Market participants are closely monitoring developments, with the hope that demand will pick up and provide clearer direction for pricing in the coming weeks.
Imported HRC prices in Northwest Europe increased to Eur535/mt CIF Antwerp Jan. 10, while prices in Southern Europe remained stable on the day at Eur530/mt CIF Italy.
“At the moment, it seems as if the hype surrounding green steel has died down,” the German buyer said, discussing carbon accounted steel.
Sources confirmed a continued premium offer level of Eur200/mt for for CO2e content below 1mt, under scopes 1-3, but buying interest remained thin.
Platts assessed Northwest European hot-rolled coil carbon-accounted at Eur630/mt ex-works Ruhr Jan. 10, up Eur10 on the day.
European HRC Market faces uncertainty amid weak demand, inventory overhang
Domestic European hot-rolled coil prices remained largely stable Jan. 8 as participants grappled with subdued demand and elevated inventory levels. The market’s cautious sentiment is reflected in the mixed pricing signals and the ongoing hesitancy among buyers.
A trader source observed a lack of engagement in the HRC market, where offers around Eur630/mt ex-works Ruhr have been reported, though these figures remained largely unworkable across the broader market.
“The market is constrained by weak demand and substantial inventories, which are dampening transactional activity,” an Austrian source said.
A Germany-based distributor source expressed skepticism regarding the current HRC offer levels from domestic mills, suggesting that realistic, workable prices are closer to Eur540-550/mt, influenced by the persistent low demand.
Platts assessed North European HRC prices at Eur560/mt ex-works Ruhr Jan. 7, stable on the day. Similarly, Southern European domestic HRC prices held steady at Eur560/mt ex-works Italy.
Interest in imports remained weak, with the source noting that import offers are not generating significant interest, as buyers remain cautious about committing to new bookings.
Imported HRC prices in Northwest Europe increased Jan. 8 to Eur535/mt CIF Antwerp, while prices in Southern Europe remained stable on the day at Eur530/mt CIF Italy.
Discussing the market interest in carbon-accounted steel, participants continued to report a wider range of offer levels in the market, depending on carbon content. A range of offers for carbon-accounted HRC was heard on the day, with the most competitive at Eur60-70/mt, CO2e content below 0.8 mt, scopes 1-3, for mass-balanced material.
Higher offers were also heard in the market at Eur120/mt with CO2e content below 0.8 mt across scopes 1-3 and at Eur300/mt for CO2e content around 0 mt across scopes 1-2, but using mass-balancing approach, However, sources remained skeptical that these price levels were workable for the wider market, instead citing that due to both higher prices as a result of the lower carbon content, the material would only attract niche buyers or be required for special projects applications.
Platts assessed Northwest European hot-rolled coil carbon-accounted at Eur620/mt ex-works Ruhr Jan. 8, stable day on day.
European HRC prices largely flat; market remains quiet
The market slowly restarted after the Christmas and New Year holiday lull, but trading remained almost non-existent.
Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at €566.25 per tonne on Wednesday, up by €0.42 per tonne from €565.83 ($587.92) per tonne the previous day.
The index was up by €1.25 per tonne week on week and by €2.08 per tonne month on month.
Not many producers have followed the move of ArcelorMittal, who announced an increase in its HRC offers by €30 per tonne across Europe just before the holidays, Fastmarkets understands.
Offer prices from ArcelorMittal with lead times in February-March were heard at €630 per tonne ex-works or delivered in Northern Europe.
“We have offers from the [Northern European] mills at €580 per tonne ex-woks. And even at these levels, the traded volumes are low. Demand remains very dull,” a buyer source based in Northern Europe told Fastmarkets.
The source added that mills could easily accept €570 per tonne ex-works for larger volumes.
A second buyer source also cited an offer from a producer based in the Benelux region at €580 per tonne ex-works.
“If you are insistent, you can get a discount of €20 per tonne ex-works,” the second buyer source said.
According to this source, the workable level for HRC in Northern Europe could be even lower, at €540-560 per tonne ex-works.
No major deals were heard in the market.
In terms of imports, India was heard offering HRC with March shipment at €540-550 per tonne CFR Antwerp.
And Turkish HRC was on offer at €560 per tonne CFR Antwerp.
These offers were considered not workable, however, because of long delivery times and the small difference with the domestic prices.
“If the European prices do not move up, it will be difficult to import any volumes,” the first buyer told Fastmarkets.
Fastmarkets calculated its corresponding daily steel hot-rolled coil index domestic, exw Italy at €562.50 per tonne on Wednesday, unchanged from Tuesday.
The index was stable week on week, but up by €2.08 per tonne month on month.
The HRC market in Italy was also very quiet after the holidays.
“I have not heard any fresh offers from the Italian suppliers so far. We should probably wait until next week to spot some activity,” an Italy-based buyer source told Fastmarkets.
Tradable values were estimated by buyers at €560-570 per tonne ex-works, depending on the supplier.
The market for imported coil was muted.
Import offers of HRC to Italy similar to those reported for the Northern European market were heard.
Buyers estimated tradeable values for imports at €520-530 per tonne CFR, but no such offers were available in the market.
