The steel market for flat [products has not seen substantial changes this week as compared with the previous one as it continues to be dormant and buyers still extremely reluctant to book any important order.
Steel plates in Italy have lost some important ground by sliding well below the EUR 600 per tonne mark as demand and general consumption is unable to sustain growing offer.
HR is also continuing to loose ground with odd suppliers like Canada trying to enter the market with offers around EUR 500 per tonne to EUR 510 per tonne CFR FO for base, but unfortunately without attracting any buyers.
On the other hand, the recent merger of Ilyich with Metinvest has halted offers from that origin which is some how putting pressure on the market segment used to buy from there.
Chinese Mills are still uncompetitive as prices are remaining well above customer expectations and delivery time too long.
The highly expected pick of purchases due to start by second half of July seems far from happening as general sentiment is that domestic sources have still enough capacity and room to satisfy both, quantity and price wise, buyers need.