PRICING NOTICE: Proposal to launch daily domestic HRC index for Italy Fastmarkets is proposing to launch a daily index for Italyâs domestic steel hot-rolled coil market to replace the existing weekly price assessment for the product in Southern Europe. HRC production in Italy was an estimated 7.6 million tonnes in 2020, accounting for 11% of output in the European Union, according to Fastmarketsâ research team. Domestic production in Italy is likely to increase due to ArcelorMittal Italia's target of producing 5 million tonnes per year of HRC, up from 3.4 million tonnes in 2020. Since the Italian HRC market has traditionally had a higher number of independent distributors and buyers than other parts of the EU, it accounts for a larger share of spot transactions.