There was little activity in the European hot rolled roll (HRC) market this week, as buyers in Northern and Southern Europe mostly refrained from buying. Continued weak demand, combined with expectations of further price declines in the short term, is keeping trade at a limited level. With the summer recession approaching, factories are eager to receive new orders, but weak interest in HRC continues to restrain order volumes.
In particular, although prices for HRC at plants in Northern Europe, mainly for supplies in July, were announced at 630-640 euros per ton from the plant, local prices for HRC at plants in Northern Europe, mainly for supplies in July, are 630-640 euros per ton. Compared to the previous week, sales prices in Northern Europe decreased by 5 euros per ton, amounting to 615-630 euros per ton from the factory, compared with 620-640 euros per ton from the factory last week.
Meanwhile, in Italy, most of the offers from factories were estimated at 620 euros per ton.mt ex-works is working the same way as last week. However, real prices dropped to 580-600 euros per ton from the manufacturer against 590-600 euros per ton from the manufacturer last week.
Meanwhile, import bidding activity remained low this week, and most of the HRC import offers in Southern Europe were priced at 520-550 euros per ton CFR, depending on the supplier, the price is reduced by 20 euros per ton compared to the higher price range week after week. It was reported that prices for HRC from one of the Indonesian factories are in the lower part of the range, or about 510-520 euros per ton CFR, as they were last week. However, according to sources, there have been reports of more favorable offers from other Indonesian producers - at 550 euros per ton CFR and slightly higher. In addition, there were reports of offers from other Asian suppliers, including India, at a price of 535-550 euros per ton CFR, depending on the brand of the material, compared with 555 euros per ton CFR last week.
Meanwhile, official starting price offers from Turkey were presented at relatively the same level as last week – 540-550 euros per ton of CFR with duties, although, according to sources, a number of customers still estimate acceptable prices at an even lower level – 525-530 euros per ton of CFR with duties. In addition, there were offers from HRC suppliers from Saudi Arabia at a price of 540 euros per ton CFR.
In addition, according to sources, there were offers from Chinese HRC suppliers at a price of $ 620 per ton CFR, which is about 543 euros per ton CFR.
$1 = €0.88
