As per the latest market report, long products prices are loosing ground in Europe as the effects of recent increases have already lost momentum.
Particularly debars producers have been obliged by the very weak demand to chase for orders and thus giving substantial discounts.
It is reported that after having nominally reached the peak of EUR 500 per tonne effective EXW, now transactions are made at levels around EUR 485 per tonne to EUR 480 per tonne thus clearly setting descending trend.
Same situation seems valid also for merchant bars that, after the increase of EUR 30 per tonne last week they were finally able to reach EUR 300 per tonne base level. But during last few days, for the same reason negatively affecting debars, price has lost EUR 10 per tonne to EUR 20 per tonne and is expected to go back to previous level within short time.
As the result f weakness in finished long products, billets are sold inside domestic Italian market at prices around EUR 440 per tonne or about USD 560 per tonne. This level is preventing sales of imported billets from Black Sea whose price was reaching during last week the peak of USD 600 per tonne. During last few days quotations have deflected down to USD 580 per tonne to USD 575 per tonne without being able to get any interest. However the scarce availability will possibly keep the price still above the domestic one.