Domestic prices for hot-rolled steel in Europe rose slightly on Wednesday, September 3, while demand is still turning off after the summer holidays, Fastmarkets sources said.
Fastmarkets calculation daily roll of hot-rolled domestic index, pickup of Northern European Euro 575 ($670.40) per ton on Wednesday, down by €4.79 per ton from €579.79 per ton on Tuesday, September 2.
Nevertheless, the Nordic index was €2.50 per tonne week-on-week and €15 per tonne per month.
Trading has been limited as people return from the summer holidays, as traders expect prices to rise by the end of September.
Integrated factories in the region have been heard pushing for higher prices of about 600-610 per ton of Ex-work for October-coil deliveries, a number of sources believe.
Some suppliers were aiming for even higher prices for November PC delivery, at €630 per ton of Ex-work.
However, other buyer sources report low prices from the market, estimating achievable prices of about 550-580 per ton of Ex-work.
"Business is still quite slow," the source said, adding that hopes for higher prices depend on how much "protection" buyers receive from the extra costs associated with the Carbon Limit Adjustment Mechanism (CBAM) and other regulatory updates.
Meanwhile, prices for foreign coils have increased slightly over the past week.
Fastmarkets once a week, valuation cost per hot-rolled roll, import, CFR shipments to the main port of Northern Europe of EURO 475-515 per ton on Wednesday, increased from €470-510 per ton last week.
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Participants in the Italian market were largely deterred from trading by the market assessment after three weeks of summer vacation.
"We will most likely have two to three quiet weeks in Italy before starting trading completely rebooted," a buyer's source told Fastmarkets.
The buyer estimated the running costs at €540-550 per ton of Ex-work.
One trade source, however, claimed that these levels were "difficult to obtain", even from the most aggressive of suppliers.
Factories in the region hoped to reach €560-580 per ton of Ex-work for October-coil deliveries.
The main supporting factor for the potential price increase was the lack of "viable" import parameters amid the impending implementation of CBAM and new protective measures.
"Bullish sentiment is driven by the potential for import supply issues amid regulatory changes. Steel demand remains on the low side," the second buyer said.
Fastmarkets daily hot-rolled steel coil index, domestic, on EXW Italy terms calculated at €548.33 per ton on Wednesday, down by €1.67 per ton from €550 per
