European prices for hot-rolled steel continued to decline during recent transactions, while expectations remain optimistic due to low demand and an expected seasonal slowdown in the summer months, Fastmarkets sources said on Wednesday, June 4.
Offers from factories in Northern Europe for HRC with July delivery dates were offered at a price of 620-650 euros (707-742 dollars) per ton from the factory or with delivery
A roll from Italy was offered to Germany at a price of 630 euros per ton with delivery.
According to the buyers' estimates, the market value was 590-620 euros per ton. sale from the factory.
Several buyers reported a deal with one large plant in the region for about 600 euros per ton delivered in Germany, which is about 585-590 euros per ton from the plant, but the seller did not confirm this information.
Another source said a similar deal was concluded at a price of 595 euros per tonne delivered.
"By the end of this year, we will see even more price reductions. There is simply no demand, the US is imposing 50% duties on steel, CBAM is approaching.[There's]no light at the end of the tunnel," a German buyer said.
As a result, Fastmarkets daily calculation by Yulia Bolotov
fastmarkets.com
