Italian and Spanish economies are reeling under fresh bout of recession characterized by poor consumption and consequent sluggish demand.
These economies are beset with typical recessionary maladies like low investment, tight economic policies, burgeoning national debt, high unemployment etc.
Domestic producers in both countries are applying restrictive pricing policies keep import at rather low levels. Buyers are extremely cautious in committing quantities from abroad due to long delivery time, financing burden and unpredictable market trend.
Some positive development is seen in Long products prices which are increasing pushed by the price increase of semis from Black Sea and scrap.
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