European prices for hot-rolled steel remained stable during the week until Wednesday, February 18, following recent market developments related to the EU Carbon Boundary Regulation Mechanism (CBAM) and other regulatory changes, Fastmarkets reported.
Market sources said that although the sector is increasingly focusing on domestic production, demand remains low as the market is still adjusting to changing dynamics, but sentiment remains positive.
"The situation on the[domestic]market is a little better than it was before. As imports have become less interesting due to CBAM, a lot of attention is now being paid to domestic production," said a market source in Northern Europe.
Another source said that factories are insisting on raising supply prices, but it may take several weeks for the market to reach this level.
According to some estimates, reasonable prices are still hovering around 650-660 euros (772-783 dollars) per ton from the factory, and no new trading activity was reported during the day.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption in Northern Europe was 662.81 euros (782.49 dollars) per ton on February 18, unchanged from February 17.
The indicator increased by 10.31 euros per ton week-on-week and by 22.31 euros per ton month-on-month.
In Italy, market sources also noted low market demand. Estimates of real prices were presented in the range of 650-660 euros per ton from the manufacturer.
The daily HRC index for Fastmarkets steel, for domestic consumption, exw in Italy, was calculated on February 18 at 655.00 euros per ton, which is 1.20 euros lower than 656.20 euros per ton on Tuesday.
But the indicator increased by 7.83 euros per ton week-on-week and by 23.75 euros per ton month-on-month.
.Author: David Montagnier
Fastmarkets.com
