During last week steel prices in Europe have gone up again mainly for flat products, specifically HRC.
In Italy and Spain customers for flat products have agreed on new bookings at prices progressively higher due to scarce offer
and rumors of further increases to be implemented during January 2011.
On the other hand, long products have also been object of price increases by the main producers but the weak demand and the
festivity have prevented from a steady and consistent application.
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.
Almost all operators are sharing the opinion that prices will keep rising during January 2011. After that the question mark will be the usual one, i.e. whether or not the general consumption will be able to sustain the demand at a level enough strong.