Italian cold rolled and hot-dipped galvanised coil prices are increasing month-on-month by some €40/tonne ($42), in line with the hot rolled coil price hike
Domestic HDG contracts are now climbing to €750-760/t base ex-works on average, while CRC prices start at €730-740/t.
In line with increasing HRC values, producers are considering pushing up prices further for HDG and CRC. One large steelmaker is already quoting HDG at €800-820/t base ex-works for February delivery, while others are slightly lower at €760-770/t base. Some demand has returned to the Italian market in December after a long period of quiet and neighbouring European countries such as Germany and France are also ordering material, sources suggest.
Meanwhile, Italian HRC prices are increasing in quotes and contracts by €50/t on average compared to last month. Producers are quoting end-February and March delivery at €650-680/t base ex-works, up from €610-630/t base at the beginning of the month. These quotes however are expected not to last, as most European steelmakers are mulling €700/t base ex-works for January 2023.
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