As per latest market information from Europe, the steel market continues to face southward headwinds
While the buyers are extremely reluctant to place orders as 2012 is coming to an end, steel mills are pushing up prices, hoping to get at the reopening in January better results.
In Germany, local producers are also trying to increase prices but with very limited success.
In Italy everybody is waiting for the release of the almost 150,000 tonnes of Ilva material that should happen next week, as a result of the new government Decree. If this is really happening, believe we can consider the year definitely closed, at least as far as Italian market is concerned.
On the other hand, Russian Mills are increasing HRC prices up to EUR 440 per tonne base Fob Black Sea which is equivalent to a minimum of EUR 460 per tonne to EUR 465 per tonne base CFRFO at sight.
This is for Jan production, February shipment but so far no buyers.
