European prices for hot-rolled coils (HRC) rose sharply this week, helped by ArcelorMittal, which increased its supply in the EU domestic market by about 20 euros per ton compared to last month. Other European plants, especially in the north, are expected to try to follow suit in the near future. At the same time, European manufacturers are increasingly counting on the introduction of the Carbon Boundary Regulation Mechanism (CBAM), which was published on December 17, while import trade activity remains close to zero.
In particular, in the local EU market, ArcelorMittal announced its new price target for HRC at 670 euros per tonne, mainly for March shipments, which is 20 euros higher than the previous official level announced last month.
"The rest of the factories will do the same, just to secure the latest orders for February and keep prices high ahead of the holidays," said SteelOrbis, a European trader.
"It is very doubtful that the new levels will be operational," another source said.
Meanwhile, local plants in Northern Europe, as last week, are still targeting new orders for January and February at a price of 630-650 euros per ton, as before. The prices available for rolls for January delivery are estimated at 610-630 euros per ton from the manufacturer, mainly for January delivery, which is 10 euros higher compared to the previous month
.In Italy, factories were targeting January supply at 620-630 euros per ton, the same as last week, while the market price level for January supply was estimated at 600-630 euros per ton from the factory, which is 10 euros higher than last week. during the week.
In the import segment, the estimated supply prices for HRC were set at 485-535 euros per ton CFR compared to 490-520 euros per ton CFR last week, while import proposals for HRC, including the cost of DDP-based CBAM, were announced at 600-620 euros per ton, depending on the supplier, up to 5-10 euros per ton per week
.CFR-based import offers, excluding CBAM-related costs, remained scarce in the region this week, with most suppliers providing only indicative figures. In particular, the offers for HRC ex — Indonesia amounted to about 565 US dollars per ton of CFR, which corresponds to about 485 euros per ton of CFR. In addition, offers were announced at a price of $575 per ton CFR, which corresponds to about €491 per ton CFR, as it was last week. Offers for exporters from Thailand amounted to about 535 euros per ton CFR, while offers for exporters from Turkey remained at about 520 euros per ton CFR, including duties.
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