Though the Italian buyers have turned to steel market this week, they still slowed down the purchase due to the uncertain market situation.
It's said that buyers are paying close attention on ILVA's movement on pollution charges and the global steel market condition.
At present, the prices of hot rolled coils (HRC) remained at €480~€490/ton in Italian market.
It's known that Arvedi, the major rival of ILVA has received fully booked order volumes with average contract prices of €490/ton for September after ILVA got into scrapes due to the pollution issue.
However, Arvedi's prices may become less competitive due to falling iron ore prices.
Meanwhile, ILVA has poured huge investments to improve the pollution. Market participants predicted that ILVA may raise the steel prices in the near future