Italian hot rolled coil prices are plunging by some €100/tonne ($107) compared to last month. However, multiple sources say there is currently no effective contract price apart from a very few deals for tonnes so low that they are not indicative of a market price, Kallanish notes.
Since the Made In Steel tradeshow in Milan earlier this month, sales activity has come to an almost complete standstill. Service centres and re-rollers have adopted a wait-and-see a…
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