European securities markets remained stable on June 9 amid the holidays in Northern Europe and the continuing bearish background.
Although the North of Europe was mostly not trading due to national holidays, sources in the south continued to share negative information. examines the fundamental factors of demand, noting that the increased level of competition for orders further reduces prices.
"Both the domestic and import markets are undergoing price adjustments," said a trader from Italy."Customers say that I have enough inventory at the moment, nothing has happened, but prices have dropped."
A source at the Southern European service center confirmed the quieter conditions and increased competition for filling capacities in the market.
"It would still be quiet if they were, because we operate in the North, uncertainty about prices is paramount at the moment, and our customers are just growing day by day," said a source at the service center."Factories are lowering prices to increase production volumes and meet any demands. We all fight for any order, which means there are no extra charges."
Platts estimated domestic prices for HRC in Northwestern Europe at 600 euros per tonne excluding production in the Ruhr and in Southern Europe at 585 euros per tonne excluding production in Italy, which did not change during the day.
Platts imports of HRC to Northwest Europe were estimated at 520 euros per ton of CIF in Antwerp, and to Southern Europe at 510 euros per ton of CIF in Italy, which is stable from day to day.
Charles Thompson
spglobal.com
