According to SteelRadar data, HRC prices in Italy fell by EUR 10 to EUR 615 in the last week of June. CRC prices, on the other hand, remained stable at EUR 750. Although there were forecasts that Italian HRC values would increase by EUR 20/t, the market did not show any movement in this direction.
According to the data, galvanised coil sheet prices in Italy rose by EUR 6 to EUR 856 in the new week. However, demand for sheet metal continues to remain weak. Service centres' third quarter consumption expectations are pessimistic. Except for a small recovery before the maintenance outages in August, demand is not expected to show a significant improvement.
The situation in the construction and manufacturing sectors is not encouraging...
The construction sector in Italy is slowing down and this is having a negative impact on steel demand. A construction company buyer says that they are working fewer days a week due to the slowdown in their sector. Contractors and subcontractors are experiencing a significant drop in sales. Orders from the white goods and automotive sectors are also down significantly compared to last year.
Service centres are suffering financial losses due to lower consumption and pricing. Rebar prices in Italy fell by EUR 10 to EUR 630 this week. Low demand continues to keep prices under pressure.
The European steel market failed to realise the expected price increases despite the protection measures. The decline in steel prices in Italy, combined with insufficient demand and production cuts, is increasing uncertainty in the market. How this uncertainty will evolve and how steel prices will be shaped in the coming months will be closely monitored by both producers and consumers.
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