In mid-April, the domestic European hot-rolled steel market experienced a decline, despite expectations of a revival during the pipe and wire exhibition in Dusseldorf, Germany, which took place from April 13 to 17.
The bidding remained inconclusive, as neither sellers nor buyers needed to transport significant amounts of materials. It was reported that customer stocks were quite high, and both domestic and imported materials were booked in advance to ensure their availability before the new EU trade regime came into force on July 1.
As a result, estimates of real prices in Northern Europe on April 17 decreased to 700-710 euros (826-837 dollars) per ton from the manufacturer, compared with 700-720 euros per ton from the manufacturer earlier this month.
At the same time, European suppliers continue to push for higher prices for materials shipped in July, with new stricter protective measures being the key factor rather than real demand.
Earlier in the week ending April 17, the European Council and the European Parliament reached a preliminary agreement on a new trade regime. On July 1, a new tariff quota system (TRQ) was introduced to replace existing protective measures for steel.
Several integrated plants reported preliminary target offers of 750-770 euros per ton of rolls for delivery in July, which were considered high by customers.
Factories were expected to return with firm supply offers in the third quarter as soon as country sales volumes were known.
On April 17, the daily Fastmarkets hot-rolled steel roll price index for domestic consumption in Northern Europe was 708.33 euros per ton, down by 1.15 euros per ton the day before.
The indicator also decreased by 11.67 euros per ton week-on-week and by 1.80 euros per ton month-on-month.
The Italian market was also calm: 700-710 euros per ton on April 17 were considered an acceptable price, compared with 690-700 euros per ton in stock earlier in April.
At the moment, supplies of materials to the country have been reduced due to the suspension of HRC production in early April due to technical problems related to the replacement of the local roller. Work was expected to resume in May.
In Northern Europe, an integrated manufacturer from the Benelux region also encountered technical problems, resulting in a shortage of materials.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption (exw, Italy), calculated on April 17, amounted to 700.00 euros per ton from the factory, which is 1.25 euros higher compared to 698.75 euros per ton on April 16.
The indicator remained stable week to week,
