European prices for hot-rolled rolled products rose on Wednesday, August 20, and suppliers insisted on higher rates, trade sources told Fastmarkets.
The integrated steel companies of Northern Europe maintained their supply offers in October at the level of 590-610 euros (687-711 dollars) per ton from the plant.
Earlier this week, several trade sources told Fastmarkets that leading European steel producers have increased their offers for materials for November delivery to 630 euros per ton from the factory or with delivery, but this has not been confirmed.
Sources familiar with the situation, market participants told Fastmarkets that manufacturers' offers for a roll with delivery in October were priced at 610 euros per ton from the factory or with delivery, while sales in November "had not yet been opened."
In any case, customer sources gave much lower estimates of achievable prices for HRC in the region, at 560-580 euros per ton from the factory.
Transactions in Germany were reported in the range of 560-570 euros per ton from the plant.
"Suppliers are trying to raise prices, but buyers are not accepting these offers," a market source said. "The Asian market remains low and[EU's Carbon Border Adjustment Mechanism]will also affect prices."
Fastmarkets’ calculation of the daily steel index HRC, domestic, pickup of Northern Europe, Euro 573.75 ($668.29) per ton on August 20, increased by €2.50 per ton from €571.25 per ton on August 19.
The Nordic index was €4.42 per tonne week-on-week and €22.08 per tonne compared to the previous month.
In Italy, meanwhile, one of the local integrated mills has been heard seeking €580 per ton, Ex-works and a European supplier is offering coils to the nation at €600 per ton delivered.
Possible prices were estimated at €530-540 per ton of Ex-work by buyers and in the amount of 540-550 per ton by sellers.
Trading activity in the country remains minimal due to the absence of a continuation of the holiday.
Fastmarkets daily hot-rolled steel coil index, domestic, on EXW Italy terms, EUR 538.33 per tonne on Wednesday, up by €0.83 per tonne from €537.50 on Tuesday.
Italy's index increased by €16.60 per tonne week-on-week and by €13.33 per tonne compared to the previous month.(0:13 a.m.) For foreign customers, the reels were also slightly weekly on Wednesday.
Weekly price analysis
Fastmarkets per hot-rolled roll, imports, CFR shipments to the main port of Southern Europe, Euros 470-520 per ton on Wednesday, tapering upward from €460-520 per ton last week.
The lower end of the range of available offers are from Indonesian suppliers, which are priced at €470-475 per ton CFR, while the upper and range offered are lower end offers from Turkey, India and Algeria.
Julia Bolotova, Davide Montagnier
