![Italian coil prices hold amid uncertainty](https://media.kallanish.com/filer_public/da/3a/da3a36db-138a-4ab9-8814-090fe6f1023e/crc_in_storage.jpg)
Italian coil prices hold amid uncertainty
Italian coil prices have remained relatively stable during recent weeks, as service centres are now destocking but material available from mills remains scarce, Kallanish understands from sources.
HRC in Italy continues to be transacted at €530-550/tonne ($569-591/t) ex-works base, with the asking level of €560/t from mills still yet to be achieved.
While mills remain bullish on the outlook, there is some uncertainty within the scrap sector which has begun to weaken. The market is also now convinced that provisional duties on HRC from Russia, Iran, Brazil, Ukraine and Serbia will not be imposed next week, and this is weakening sentiment.
A source notes that a Russian exporter has come straight in the market "... aggressively." Buyers remain wary however as the registration system for Russian HRC remains in place and definitive duties could be imposed any time before October.
HDG continues to remain strong, with levels at around €680/t ex-works base, supported by zinc prices and automotive demand. Zinc prices on the LME are up some $1000/t year-on-year, sources suggest.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous