ITALIAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD

ITALIAN STEEL PRICE ROUNDUP FROM MEPS INTERNATIONAL LTD

Italian hot rolled coil prices have decreased, in September, according to MEPS. Distributors and end-users are already starting to reduce inventories for the end of year. They will only buy for immediate needs. Domestic suppliers have been forced to align their selling values with import offers.

Hot rolled plate re-rollers are beset with problems as export markets are depressed. Moreover, transport costs prevent them from selling in the higher demand region of northern Europe. Falling slab costs, together with low import offers, will, no doubt, influence future pricing policies.

Cold rolled coil basis figures have declined. Large quantities of third country material have arrived in the country. Service centres report that demand has been reasonable since the return from the summer holidays as auto and white goods activity picked up, albeit from a low level. However, resale customers continue to push for bigger discounts.

Structural sections transaction values have stabilised, after falling in July, despite negative movements in the scrap market. The construction sector is suffering from a lack of investment in major infrastructure projects. Purchasing activity has been slow since the return from the holidays.

Demand for rebar remains light after the holidays. A lack of export opportunities has put further downward pressure on domestic basis values. Meanwhile, merchant bar buyers have secured a marginal price reduction during recent negotiations.

Source: www.worldsteelnews.com

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