European domestic prices for hot-rolled steel remained stable on Wednesday, March 18, after prolonged import restrictions caused by trade rules and changing geopolitical dynamics, Fastmarkets reports.
The introduction of the Carbon Dioxide Emissions Control Mechanism at the EU Border (CBAM) at the beginning of the year and the conflict in the Middle East, which disrupted normal trade flows, changed the dynamics of the market towards domestic production.
According to market sources, prices will continue to rise as long as the conflict between the United States and Iran persists, while market representatives also noted that real consumption in Europe remains low.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption in Northern Europe (exw), calculated on March 18, was 710.12 euros (817.38 US dollars) per ton, which is 0.01 euros lower than 710.13 euros per ton on March 17.
Estimates of market prices in the range of 700-720 euros per ton from the plant were announced, but no new auctions were reported during the day.
The indicator increased by 4.14 euros per ton week-on-week and by 47.31 euros per ton on a monthly basis.
Meanwhile, real price estimates of about 700 euros per ton from the factory were announced in Italy, and no new bids were reported during the evaluation period.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption (exw, Italy) on Wednesday was 698.33 euros per ton, which is 0.83 euros higher than 697.50 euros per ton on March 17.
The indicator increased by 9.58 euros per ton week-on-week and by 43.33 euros per ton on a monthly basis.
Author: David Montagnier
Fastmarkets.com
