European prices for hot rolled steel (HRC) have risen sharply this week, helped by ArcelorMittal, which has increased its supply in the EU domestic market by about 30 euros per tonne compared to last month. While other European plants tried to follow suit, in most cases their gains were more modest, by about 10 euros per ton since last week. At the same time, European manufacturers are increasingly counting on the expected impact of the Carbon Dioxide Emissions Control Mechanism (CBAM), as well as the potential introduction of new trade measures that will replace the existing system of protective measures.
In particular, in the local EU market, ArcelorMittal announced its new HRC target of 590 euros per tonne for delivery in the north and 580 euros per tonne for delivery in the south, mainly for September-October shipments, an increase of 30 euros compared to previous official levels announced in the past. month.
Meanwhile, most local prices for HRC from Northern European factories for September and October shipments were estimated at 5,600-580 euros per ton from the factory, which is 10-20 euros higher than last week, while the market price level was set at 540-550 euros per ton from the factory, which is 10 euros higher than last week. "Enterprises overly rely on protectionist measures, while the real level of consumption at this stage does not contribute to higher prices. But it's still unclear whether more lucrative offers will lead to real deals," a market insider told SteelOrbis.
"Most major suppliers have already closed their supply order portfolios in September, and some plants are now trying to raise prices slightly for materials scheduled for delivery in October," said a SteelOrbis representative.
Meanwhile, in Italy, approximate offers from factories amounted to 540-550 euros per ton from the factory, mainly for delivery in September, which is 10 euros more than last week, while real prices amounted to 525-530 euros per ton from the factory, compared to last week, the factory received 510-525 euros per ton. a ton.
Meanwhile, most import offers for HRC in Southern Europe remain stable at 450-500 euros per ton, depending on the supplier. In particular, the offers from Indonesia were estimated at 450-460 euros per ton CFR. In addition, offers were announced at a price of $580-585 per ton CFR, which is about € 493-497 per ton CFR.
At the same time, the offers for the price of HRC supplied from Turkey varied depending on the source, with most of the offers listed at €480-500 per ton CFR, duty included, as last week.
$1 = €0.85
