Posted on 31 Oct 2019
Italian cold rolled coil and hot dipped galvanized prices are weakening month-on-month. Uncertainty and low demand from the automotive sector are contributing towards the creation of a stagnant market, domestic service centres tell Kallanish.
From the level of transactions at €490-500/tonne ($544-555/t) base ex-works in October, HDG prices have reached €490/t delivered. Some sellers are implementing €470/t base ex-works while CRC prices are also at €470/t base ex-works, sources suggest.
Basic demand remains sluggish with no change apparent from the beginning of October. Volumes are forecast to remain low in November as sellers are struggling to fill order books for the end of the year, Kallanish hears.
A source at a service centre says that demand from end-users remains unreliable and orders are implemented only on the basis of immediate need. Tonnages are therefore generally modest. Prices however may be close to bottoming out, sources suggest.
