ITALIAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD
According to the latest report
by MEPS, there are competitive offers, for hot rolled coil, from
Russian suppliers in the Italian market. Domestic basis numbers fell
to €400 per tonne in mid-July but have revived since then.
Hot rolled plate rerollers are attempting to lift basis values by
€30/50 per tonne as their slab supplies have been curtailed, with a
consequent increase in costs. However, freight rates to Germany,
their target market, are sufficiently high to make their offers
uncompetitive in that country. Domestic demand is stagnant.
Nevertheless, we have noted a modest advance during recent
Local steelmakers have secured a marginal rise for cold rolled coil
during recent transactions, mainly due to a reduction in import
The auto sector shows no real signs of improvement. The purchase of
consumer goods is low due to the deflationary nature of the economy.
Despite poor demand and fierce internal competition, buyers of
coated coil have agreed to a very small advance.
Low carbon wire rod prices are static. A poorly performing
construction sector continues to create lacklustre demand for
recoil. Steelmakers have kept effective figures steady, after
offering a small discount in July to try to stimulate sales.
Effective structural section prices continue to suffer from the
state of the ailing building sector. Despite more expensive scrap,
suppliers have been unable to persuade customers to pay more for
steel products. Recent forecasts for investment in construction are
Sales of rebar are at a very low level. The recent increase in
September is likely to be short-lived. Merchant bar basis figures
continue on a downward trajectory. The outlook remains bleak due to
a lack of building activity.
European Steel Review
- September Issue
MEPS - EU Steel
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