The Italian coil market has lost further momentum since last week as demand remains slow and prices have lost overall some €20-40/tonne ($21.2-42.4/t) since the end of March, Kallanish understands from sources.

HRC from domestic Italian producers is being sold at €500-510/t ex-works base. North European mills meanwhle are keeping their official offers in the country at €530/t ex-works base, supported by longer order books at German, French and Benelux mills.

One senior commercial manager confirms that tubemakers in the country are bidding at €480/t ex-works base for HRC, but that this level has not been accepted by mills so far. After the Easter holidays some further corrections could be possible however, to revive slightly the slow demand from service centres and distributors.

CRC is currently transacted at €610-620/t ex-works base from Italian mills, while HDG has also lost around €20/t to reach a level of €640-660/t ex-works base, Kallanish understands.