Sources told Fastmarkets that on Tuesday, September 9, there was a decline in the European hot-rolled steel market, prices remained stable amid subdued trading.
In Northern Europe, hot-rolled coil prices have stabilized in recent days after suppliers managed to push through moderate increases in late July and early August. Since then, domestic prices have generally remained stable, and the second round of offers for increases has not yet been successful.
"The dynamics have stalled," said a German buyer. "[European suppliers]started with[HRC]offers of 620 euros per ton with delivery in three weeks. earlier, stating[at the time that]that it was not possible[to accept]to reduce the price by a single euro, but now[HRC is being sold]at a price of 600 euros per ton.
"Demand is not high enough to maintain momentum," the buyer said.
In Germany and the Benelux countries, most buyers estimated the market price at about 570-580 euros per ton from the factory, although one buyer estimated an acceptable price at 600 euros per ton with delivery (about 585 euros per ton from the factory).
Offers for October- Meanwhile, the price for a roll delivered from the factory in November was 600-630 euros per ton. It was reported that in December, one supplier planned to receive 650 euros per ton from the plant. But several market participants have informed Fastmarkets that higher offers have been "postponed" due to a lack of customer interest.
"Let's see how the market develops. So far, uncertainty in the EU[Carbon Border Adjustment Mechanism](CBAM) new precautions have helped push[HRC]prices slightly higher in Europe, but demand is still slow, so there is no new round of growth," a buyer in the Netherlands said.
Fastmarkets’ calculation of the daily steel index HRC, domestic, pickup of Northern Europe, Euro 577.92 per ton on September 9, slightly more than €0.84 per ton from €577.08 per ton on September 8.
The Nordic index decreased by €1.87 per tonne week-on-week, but increased by €2.29 per tonne compared to the previous month.
In Southern Europe, meanwhile, the Fastmarkets daily steel gauge HRC, home, EXW conditions Italy is calculated at €549.38 per tonne on Tuesday, down by €1.04 per tonne from €550.42 per tonne on Monday.
The index decreased by €0.62 per tonne week-on-week and by €1.87 per tonne compared to the previous month.
However, Italian buyers have taken a cautious approach to buying new cars, so local factories are also trying to realize the increases.
The price offer for October's HRC delivery sounded at €580-600 per tonne base delivered (€570-585 per tonne free-of-charge) on Tuesday, but that level was not sealed in the deals, the sources said.
The buyer estimates the processed prices to be from €540 per ton and
