On Monday, June 30, prices for hot-rolled coils in Europe continued to decline amid weak demand and continued import pressure.
The calculation of the daily HRC index for steel in Northern Europe, made by Fastmarkets, amounted to 557.67 euros (653.36 US dollars). per tonne on Monday, compared to 565.63 euros per tonne on Friday, June 27.
It was reported that transactions with small and medium-sized shipments were concluded in the wide range of 540-570 euros per ton at the manufacturing plant.
Unconfirmed data on sales of large shipments were estimated as low according to several sources, the price is 515-530 euros per ton from the factory.
Compared to Northern Europe, sales in the Italian domestic market were minimal.
Sources said that factories in the country are ready to accept 530-540 euros per ton from the plant in case of reservations, while last week it was believed that this level was possible mainly for large volumes.
Fastmarkets' daily HRC steel index for domestic sales, exw Italy, was calculated at 535.00 euros per tonne on Monday, compared with 540.42 euros per tonne on Friday.
The lower prices in the domestic market were due to the fact that foreign suppliers, especially from Indonesia, behave very aggressively.
At the end of last week, information appeared about the sale of 30,000 tons of Indonesian roll at a price of 460 euros per ton in Italy. At that time, the offers ranged from 470-480 euros per ton CFR.
Materials of Indian origin were available to buyers in Italy at a price of 520 euros per ton CFR, while recent reports of offers from Turkey came at a price of 500-520 euros per ton CFR, including duties, depending on the size of the cargo.
(The ninth paragraph of this report originally stated that two batches of Indonesian rolls were sold. This has been corrected to reflect only one declared shipment.)
Vlada Novokreschenova
Fastmarkets.com
