The European HRC market remained sluggish this week due to the summer holidays, with only a slight increase in activity in the north, while in the southern region, including Italy and Spain, most participants are expected to return in September. At the same time, estimated domestic prices increased by 5-10 euros per ton compared to last week's estimates. However, despite this slight improvement, August offers of over 600 euros per tonne from the plant are considered unrealizable in current market conditions.
In particular, local prices for HRC from plants in Northern Europe, mainly with delivery in October, are estimated at 580-590 euros per ton from the plant.it works, compared to 580 euros per ton last week. In addition, according to sources, some plants are targeting new orders in the amount of 600-630 euros per ton of finished products. However, at the moment, the market price level is estimated at 560-570 euros per ton from the plant, which is 10 euros higher than last week.
Meanwhile, in Italy, while factories plan to raise their prices for HRC for October delivery to 570-580 euros per ton from the factory.-it is working, some sellers are still ready to sell at a price of about 550-560 euros per ton from the factory, while buyers are still aiming for a price of 530 euros per ton from the factory, as they did last week.
"Announcements of price increases from ArcelorMittal and other manufacturers at the end of July caused a short-term improvement in sentiment, as a result of which buyers began to purchase HRC shares for the fall. However, since then, all offers above 600 euros per ton from the plant in August have been difficult to find approval," a source familiar with the market told SteelOrbis.
Meanwhile, trading activity in the import segment remained close to zero, with offers estimated at 470-530 euros per ton CFR., depending on the supplier, where the lower end of the range corresponds to the estimated offers for HRC from Indonesia, while the offer prices of other foreign suppliers are mainly estimated at 515-530 euros per ton CFR.
In particular, offers for HRC from Turkey were presented at the level of 520-530 euros per ton CFR, including duties, basically the same as last week. In addition, proposals were announced for HRC from the former Algeria at a price of 515-520 euros per ton CFR, compared with 515 euros per ton CFR last week. In addition, offers from Indian suppliers remained at 515 euros per ton CFR.
.steelorbis.com
