Italian Buyers Buy Imported HRC Due To Competitive Prices

As European HRC prices are on a downward channel, buyers are cautious. With only Italian mills on the market this week, volumes were limited, and HRC prices dropped by €30/t to €750/t EXW, base specification. The decline is expected to last for two weeks, and the price of hot coil may drop to 700 euros/ton EXW or lower.
Cheap imports are also keeping prices down. Indian HRC was reported to have been sold to Italy at €640/t cfr. Another large-volume deal is being negotiated at €630/degree CFR.
It is understood that Vietnam offers 600-610 Euro/ton CFR for HRC to Italy and Europe. Other Asian suppliers such as South Korea and Japan are reported to be announcing the same price levels in the near future.