Sources told Fastmarkets that trading on the European hot-rolled roll market on Friday, September 26, was calm, and prices were mostly unchanged amid weak demand and changes in the regulatory framework.
In Northern Europe, trading was muted and factories were unable to price seal at 600 euros (US$702) per ton from the factory and above due to low demand.
November supply prices were 580 euros per tonne from the German factory and 570-580 euros per tonne from the Benelux factory, according to buyers' estimates of market value.
"The official offers from the factories are 600-630 euros per ton from the factory, but in fact they sell the roll at lower prices to fill the order book," one German buyer told Fastmarkets.
The buyers stated that they have a sufficient quantity of HRC in tons in stock. They also expected more clarity on the rules for the Carbon Dioxide Emissions Control Mechanism (CBAM) and new protective measures for steel.
Sources familiar with the matter told Fastmarkets that the European Commission will introduce new protective measures for steel by mid-October.
But there was less clarity in Yulia Bolotov's CBAM rules.
Fastmarkets.com
