It is reported that the European steel market has improved. However, due to the seasonal factor, the Italian market recovered quite slowly and price remained weak.
The Italian domestic traders think the price would not drop dramatically. Currently, the buyers are booking the last order before summer vacation and it is estimated the orders would increase this week or next week.
Market participants said that most mills had received full orders for September and would probably try to increase the price for October soon.
Source – yieh.com