It seems that billets are also loosing ground day by day with offers of Russian and Ukrainian producers being already below the USD 500 per tonne FOB and expected soon at USD 450 per tonne.
Italian and Spanish producers of merchant bars are trying to take profit of the situation, giving discounts only for orders of important quantities.
A different scenario is, on the contrary, that of de bars producers both in Italy and Spain. The huge difference between the installed production capacity and the actual consumption that is 3:1 million tonne in Italy and even more in Spain, is leading to difficult and drastic decisions for the sector that without a major re shuffling, production cutting, closing down and margins will not be able to sustain the situation for still long time.