Lower demand for slab followed the slowdown in trading activity in most markets due to the 2019-nCoV coronavirus pandemic.
Despite the lockdown in Italy, which has the highest number of contamination cases and related deaths in Europe, some slab volumes were sold for around $405 per tonne cfr, Fastmarkets has learnt. This would be equivalent to $385 per tonne fob Black Sea.
“It’s a good price. And soon we will dream of achieving that,” one producing source said.
The Italian government has ordered the closure of all non-essential production operations in the country, including steelmaking, as part of...