Domestic hot-rolled steel prices in Europe were generally stable on April 15, as market participants noted currency fluctuations and geopolitical obstacles as factors affecting trade flows and buyer behavior.
Prices in the domestic market were reported to be around 650 euros per tonne from the Ruhr plant and 620-630 euros per tonne from the Italian plant. While the trading levels remain stable, traders note constant warnings at the booking location.
"Compared to last week, there's a little more interest, but it's not a boom in demand — just a seasonal spring boost," the distributor said. "Real consumption has hardly changed."
Import activity remained limited as exchange rate changes led to adjustments. Offers from India came at a price of 570 euros per ton of CIF in Antwerp, while the Indonesian HRC was offered at a price of 540-550 euros per ton of CIF in Italy. "With the weakening of the US dollar against the euro, the same price in US dollars is now converted to a lower value in euros, creating the illusion of lower prices," the source explained.
Although some factories put forward the idea of further price increases, the participants were skeptical.
"Imports are not particularly attractive right now, and factories may try to capitalize on this, but weak real demand is likely to curb price increases," the source also said.
On April 15, Platts estimated oil prices in Northwestern Europe at 650 euros per ton for delivery to the Ruhr, and in Southern Europe at 630 euros per ton for delivery to Italy, which remained stable that day.
According to Platts, imports of HRC to Northern Europe amounted to 545 euros per ton of CIF in Antwerp, unchanged during the day, and to Southern Europe - 535 euros per ton of CIF in Italy, having decreased by 5 euros per day.
