As the news portal argusmedia.com reports, the Italian market for hot rolled coils (HRC) may be on the verge of a further price increase, as the data confirm that consumption has remained fairly stable recently while supply has declined.
The article also states that, according to the Italian metal association Federacciai, Italian flat steel production in October was down 12 percent year-on-year, or about 120,000 tonnes. The data for September show a sharper year-on-year decline of 33 percent.
The portal also reports that HRC imports in September fell by 66 percent year-on-year, according to the latest Eurofer data. This represents a volume of 147,211 tons. October imports will certainly be stronger than September due to the extension of the safeguard quotas, but probably still distorted by discussions on retroactive anti-dumping duties on Turkey, with much of the material probably being taken by traders.
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