Flat steel demand in Greece still weak despite competitive import offers

Flat steel demand in Greece is still weak, while buyers have continued to exert pressure on prices.  Hot rolled coil (HRC) import offers to Greece, where no domestic production is available, are quite competitive.
 
Greek flat steel mill Hellenic Steel of Riva Group, which produces cold rolled coil (CRC), color coated coil and hot dip galvanized (HDG) coil, is currently producing and making shipments in smaller tonnages and the producer is generally supplying material to small-scale local buyers and to northern export markets. For this reason, Hellenic Steel is currently adopting a stable pricing policy.
 
This week, HRC import offers to Greece are standing at $550/mt FOB from Egypt, $560/mt FOB from Turkey and $510/mt FOB from the Middle East. In the meantime, it is also reported that foreign suppliers are accepting firm bids from buyers. Hellenic Steel's HDG coil prices have remained stable at $760-780/mt CIF.