European flat steel market submerged in despair with the hot band prices sinking further.
HRP offer levels have reached below EUR 550 per tonne CFR FO basis but the bottom is still elusive. HRC is offered at EUR 520 per tonne to EUR 530 per tonne CFR FO.
Surprisingly CRC from Ukraine has reached as low as EUR 550 per tonne CFR FO Italian Ports.
HDG from Indian sources is being offered around USD 1000 per tonne CFR FO for standard thickness and coating that below the EUR 700 per tonne CFR FO.
Revival is expected after the Easter Holiday with stock depletion over the last 3 months.
( source: www.steelguru.com )