Prices for hot-rolled European steel coils increased in Italy, but decreased slightly in Northern Europe, however, market activity remained mostly limited on Friday, June 19, trade sources told Fastmarkets.
In Northern Europe, one buyer reported a deal priced at 675 euros (US$773) per tonne from the factory, lower than the reported 685 euros per tonne from the factory and 700 euros per tonne from the factory bids reported by the second buyer.
"There is almost zero activity because no one knows what will happen after July 1," said a third buyer, referring to the start date of the new EU protective measures.
The same source added that demand was low and buyers were well-off. "The market is calm, and some people are even saying it's dead," said a third buyer.
Due to the lack of information, the prices announced on June 18 were moved to the index on June 19. On Thursday, the seller reported a price of 685 euros per ton from the factory.
Fastmarkets' daily hot-rolled steel roll price index for domestic consumption, exports to Northern Europe, calculated on June 19, was 686.25 euros (786 US dollars) per ton, 0.25 euros lower than 686.50 euros per ton per ton in June 18.
The indicator increased by 1.04 euros per ton week-on-week and by 4.25 euros per ton month-on-month.
In Italy, offers in the wide range of 660-690 euros per ton from the plant were reported, but market sources were unable to indicate acceptable prices due to limited trading volumes.
The daily price index for Fastmarkets domestic hot-rolled steel, exw, Italy, calculated on Friday was 682.50 euros per tonne, up 7.50 euros from 675.00 euros per tonne on Thursday.
The indicator decreased by 5.00 euros per ton week-on-week, but increased by 3.12 euros per ton on a monthly basis.
Buyers' interest in imported HRC was limited, Fastmarkets sources said on June 17, when it became known about the latest offers to Italy at a price of 595-610 euros per ton of CFR from Turkey and India and at 680-700 euros per ton of DDP from the same countries of origin.
Material from Southeast Asia was offered at a price of 680-700 euros per ton per day, while Algerian HRC was reportedly offered to Italy and Spain at a price of 700-710 euros per ton per day. The best offer was from Japan - 740 euros per ton.
David Montagner from London prepared this article.
Author: Ivelina Nikolova
Fastmarkets.com
