Buyers in Italy and Spain have acquiesced to higher prices for new bookings due to scarce offer and speculation of further hike in January 2011.
HRC prices are ascendant during the week, but HRP have taken a good EUR 20 per tonne to EUR 30 per tonne jump in the last fortnight. Domestic mills in Italy have been able to attain a price level of EUR 570 per tonne to EUR 580 per tonne base EXW with likelihood of touching EUR 600 per tonne in January 2011.
Import offers are available at EUR 550 per tonne to EUR 570 per tonne base CFR FO which is unattractive for major buyers as long delivery period and big volume requirement keep buyers at bay.