In addition, domestic HRC prices in the south have also been under downward pressure from declining prices for material imported from Turkey.
Fastmarkets’ domestic price assessment for HRC in Southern Europe was €470-520 ($532-588) per tonne ex-works on Wednesday November 28, compared with €475-525 per tonne ex-works a week earlier.
Italian mills were reported to be offering the material at €470-480 per tonne ex-works, while the upper end of the assessment reflected offers in Spain.
“Buyers [in Southern Europe] have high stocks and as it is unclear when the falling prices might [bring an end to] buyers preferring to wait before making new deals,” an Italian trader said.
Fastmarkets’ weekly import price assessment for HRC...