ITALIAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD
In Italy, hot rolled coil basis
prices are unchanged month-on-month, according to MEPS. Buyers
report that third country imports are less aggressively priced. The
weak euro has damaged their competitiveness.
Commodity plate selling figures have fallen over 2 percent.
Re-rollers continue to benefit from low slab prices out of Russia
Many service centres are living off their cold rolled coil stocks,
for now, as they become ever more cautious about ordering forward.
Some gaps in inventories did occur due to a lack of deliveries last
month, when Ilva had legal problems. The dispute is now settled and
there is plenty of material in the marketplace. Russian suppliers
are offering at competitive prices.
Coated coil basis prices are stable. The auto sector is faring
better now. The new Fiat models are very popular. However, no real
improvement is envisaged in construction investment in the near
After holding selling values steady in February, low carbon wire rod
suppliers have agreed a minor discount in March. A poorly performing
construction sector continues to cause lacklustre demand for recoil.
Although structural sections and beams sales are sluggish, customers
agreed to pay the small advance implemented last month.
The rebar market is extremely poor, with low consumption due to a
lack of investment in the building sector. Suppliers are unlikely to
secure a rise.
There is less aggressive selling by Chinese suppliers because of the
devaluation of the local currency. This has enabled domestic mills
to roll over last month’s merchant bar price for March business.
Nevertheless, there is still a lack of building activity.
European Steel Review
- March Issue
MEPS - EU Steel
up for free MEPS steel news alerts