ITALIAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD
In Italy demand for hot rolled
coil is subdued as a result of competition from very attractive
third country offers. Despite disruptions to Ilva’s production,
local basis numbers have declined, in June.
Hot rolled plate can be obtained within two weeks from local
rerollers. Sales are slow. Overseas suppliers have cut their price
offers to try and stimulate more orders.
Internal overcapacity is depressing prices in
the coated coil market. The performance of the vehicle manufacturers
has progressed well. No recovery is envisaged in construction
investment in the near term.
Very little business is being transacted in the wire rod market.
Scrap costs have reduced and are placing negative pressure on steel
selling figures. Meanwhile, purchasing activity is slow for rebar.
The lack of building work persists. After agreeing to a
scrap-related hike in May, customers have successfully negotiated a
discount in June, now that the raw material is cheaper.
European Steel Review
- June Issue
MEPS - EU Steel
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