Contrary to the expectation that steel prices would start looking up in Europe, it is reported that plates prices on Italian domestic market are again decreasing.
As per latest reports, local producers have decreased actual offers by EUR 10 per tonne to EUR 20 per tonne, with bookings going around UR 610 per tonne to EUR 620 per tonne from previous EUR 630 per tonne to EUR 640 per tonne.
However, Russian Mills are quoting for June production price levels basically same as for May. HRC offers for June have improved from EUR 510 per tonne to EUR 530 per tonne on CFR FO.
Same is the situation on HRP where importers are offering prices rather higher than before. On the other hand domestic producers are under pressure because of sluggish demand and thus are decreasing prices.
The weakening EUR vs USD has led to nominal increase of import prices specifically from areas such as Turkey and CIS.
It is reported that long steel products in Europe are still struggling and notwithstanding various attempt of increasing prices, as well as applying new extra, prices are remaining at low levels, barely above the cost of semis.
( Source: www.steelguru.com )