On Wednesday, January 7, the situation in the domestic hot-rolled steel market in Europe remained mostly calm, and some market participants began to return this week after the holiday holidays.
"There are no changes in the market as people are returning," the trader said, adding that they expect changes in the future with the introduction of new trading rules.
The EU Carbon Boundary Regulation Mechanism (CBAM) entered into full force on January 1. This is expected to increase the cost of imported steel products while supporting domestic production.
In Northern Europe, HRC offers ranged from 630-650 euros (738-761 dollars) per ton from the manufacturer, depending on the month of delivery and the supplier. The upper limit of the range reflects the supply with delivery in March.
Meanwhile, estimates of acceptable prices at the level of 630 euros per ton from the plant were announced.
The daily price index for Fastmarkets hot-rolled steel coils in the domestic market in Northern Europe on Wednesday amounted to 631 euros per ton, which is 1 euro more than on Tuesday, January 6.
The indicator increased by 3.50 euros per ton week-on-week and by 8.50 euros per ton month-on-month.
The daily price index for Fastmarkets hot-rolled steel coils in the domestic market, with delivery to Italy on Wednesday was 624 euros per ton, which is 0.88 euros higher than on Tuesday.
The indicator increased by 0.88 euros per ton week-on-week and by 10.67 euros per ton on a monthly basis.
Estimates of an acceptable level were announced in the range of 610-620 euros per ton of finished products, while proposals were presented in the range of 630-640 euros per ton of finished products.
Author: David Montagnier
Fastmarkets.com
