Prices for domestic hot-rolled steel coils declined in both Italy and Northern Europe on Wednesday, July 29, due to low market activity, industry sources told Fastmarkets on Wednesday. ,
,In Italy, according to sources, the market was very narrow, and offers were reported at a price of 730-740 euros (830-842 dollars) per tonne delivered (715-725 euros per tonne from the factory), but the upper limit of the range was abandoned due to limited trading activity observed at this level. Manufacturer
One indicated reasonable prices for simple HRC specifications at 700 euros per ton from the factory, while the indicated levels of 710-720 euros per ton from the factory were associated with higher specifications and special grades.
The same source reported offers for production in October at a price of 720-730 euros per ton from the plant.
"Today's operating levels start at 700 euros[per ton]in factory conditions, which is the absolute minimum possible for large volumes with simple specifications, and 710-720 euros[per ton]are becoming more acceptable if the specification includes materials with low or high density, special grades," the manufacturer said July 29.
At the same time, the buyer reported a price of 740 euros per tonne delivered (725 euros per tonne from the factory), but it was rejected due to the same lack of trading activity near this level.
The corresponding daily index of Fastmarkets hot rolled products in the domestic market. As of July 29, exports to Italy amounted to 707.50 euros per ton, down by 2.19 euros per ton from 709.69 euros per ton on July 28.
This indicator increased by 5 euros per ton week-on-week and by 41.25 euros per ton month-on-month.
In Northern Europe, the market was developing slowly, while no new transactions were heard during the day. Buyer ,A reported possible prices of 700-710 euros per ton from the factory, but no other price offers were received on July 29, as some market participants were absent.
,For this reason, the prices collected on July 28 were moved to Wednesday's index.
,On Tuesday, two buyers reported that the price per ton from the factory is 700-710 euros per ton. He provided data on the price of 710 euros per ton from the factory, while the third buyer reported that the offers were at the level of 700-730 euros per ton from the factory, and indicated a market level of 700 euros per ton from the factory on the same day. Daily price index for hot rolled steel products
Calculated by Fastmarkets for domestic consumption and exports to Northern Europe, it amounted to 708.00 euros per ton on July 29, down 0.75 euros per ton from 708.75 euros per ton on July 28.
This index decreased by 3.14 euros per tonne over the week, but increased by 26.75 euros per tonne from month to month.
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