HRC prices rise in Italy but remain stagnant in Germany

As SteelRadar noted, the HRC market in Italy and Germany rose in the week to 6 May, following a decline due to weak trade.

According to SteelRadar data, Italian HRC prices, which rose by EUR10 to EUR635 as of 6 May, are accelerating amid increased buying. Sources said that the higher prices are unlikely to be permanent, citing insufficient support from industries as the reason. At the same time, the sources opined that the price hikes are "speculation aimed at encouraging bookings", adding that transaction prices are lagging behind offers. However, buyers were said to be reluctant to stock up, thinking that prices were not permanent.

In Germany, which is located in Northern Europe, HRC prices, which declined by EUR 10 last week, gained momentum by EUR 10 in the week of 6 May and prices were assessed at EUR 635. Sources for HRC prices in Northern Europe, which have been gradually rising, said that no improvement is expected in the short term and the recession is likely to continue.