Italian stainless flat steel market remains unstable in the first month of the year. Facilities and rolling mills expect a continued negative performance for end product sales. Consumption is not expected to improve in the first quarter.
In addition, coil prices have started to fall. In Italy, distributors' moderate stocks have led to minimum purchases, while service centers have expressed their dissatisfaction with hot and cold rolled coil prices, market sources were quoted as saying. A €30-50 ($32-50) per ton drop is expected in the upcoming weeks.
It was heard that steel mills in Europe are currently willing to negotiate. In general, Europe is facing low demand and consumption, while some companies are awaiting to face with financial difficulties. In Italy, CRC was €2,430-2,450 per ton, while HRC was €120-130 lower.
Steel plate and steel pipe price assessments are not expected to go an adjustment in near future, as distributors are struggling to secure volumes.
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