There was silence in the European domestic and import markets for hot-rolled coils (HRC), while market participants expected clarity on the structure of the upcoming new EU protective measures. As key details have yet to be confirmed, especially regarding the allocation of quotas, most buyers postponed purchases on Thursday, June 18, resulting in extremely weak trading.
In Northern Europe, market prices were still estimated in the range of 680-690 euros ($780-791) per ton from the factory, but no new offers were received during the day.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption and export to Northern Europe, calculated on June 18, was 686.50 euros (787.34 US dollars) per ton, which is 1.50 euros lower than 688.00 euros per ton per ton on June 17.
The indicator decreased by 1.92 euros per ton week-on-week and by 2.25 euros per ton month-on-month.
In Italy, the offers ranged from 665-690 euros per ton from the manufacturer, depending on the supplier, with some rates reaching 655-665 euros per ton from the manufacturer.
But no new deals were heard during the day, as all attention was focused on the details of the new protective regime.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption, exw Italy on Thursday was 675.00 euros per ton, down by 8.75 euros per ton from 683.75 euros per ton on Wednesday.
The indicator decreased by 7.50 euros per ton week-on-week and by 5.63 euros per ton on a monthly basis.
Offers for the supply of HRC of Turkish origin came from Italy at a price of 600-610 euros per ton. It was reported that Indian material can be purchased at a price of 595-603 euros per ton CFR.
Based on DDP, the offers from these countries amounted to 680 euros per ton and 700 euros per ton, respectively.
Raw materials from Southeast Asia, including Vietnam and Thailand, were offered at a price of 680-700 euros per ton per day. And Algerian HRC was available in Italy and Spain at a price of 700-710 euros per ton per day.
The most expensive offers came from Japan at a price of 740 euros per ton per day.
At the same time, buyers indicated a limited interest in imported material, indicating current prices of €640-650 per ton on DDP terms.
The buyer from Italy said that anything above €650 per tonne of IDP is untenable, given the cost of about 20 euros per tonne for delivery to the buyer's location from the port. Higher import prices reduce competitiveness compared to domestic ones, which entails potential risks.
Fastmarkets' weekly price estimate for hot-rolled steel coils imported from CFR's main port in Southern Europe was calculated at 595-600 euros per ton. June 17th,
