Domestic prices remained under pressure, with end-users still resisting price rises from distributors because they have not fully absorbed the price increases made in the first quarter of this year, the sources said.
But they have had some support from the expectation of a decision in a safeguard investigation in Europe.
The European Commission (EC) opened a safeguard investigation into 26 steel products on March 26
in an attempt to prevent the redirection of steel shipments, originally destined for the United States, to the EU market. Among other products, the case will look into hot-rolled steel sheet and strip.
“Some buyers [have held] back...