It is reported that steel prices have taken a deep dive during last week, mainly in South Europe.
It is reported that one of the Italian steel majors has decreased CR prices by almost EUR 40 per tonne.
Same situation is reported for HDG.
HR cut to length prices have also dipped by more than EUR 30 per tonne.
On the other hand, HRP producers were trying to get some results from an apparent better demand but prices from import were still pushing down. Expectations are that nothing changing, offers should further decrease during net week.
As a result of this crash, the gap with North Europe is therefore more and more widening, with prices remaining there at much higher levels.
( Source: www.steelguru.com )