Trading activity in the European hot-rolled steel (HRC) market was calm on Tuesday, September 8, as buyers continued to resist the increase in asking prices for rolled products and limited purchases to small volumes. The Nordic market developed relatively slowly, demand was assessed as low, and inventory replenishment had not yet begun ahead of the first quarter. ,
,Small deals were concluded at a price of €750 ($862.82) per ton from the factory.
,"Demand remains very low at the moment. Replenishment of stocks for the 1st quarter has not started yet," the buyer told Fastmarkets. The second buyer
A reported that the selling prices are in the range of 730-740 euros per ton from the factory.
"The market is developing very slowly and there is no demand, but small batches on the market can be sold at a price of 730 to 740 euros per ton from the factory," Fastmarkets reported. "740 euros is the maximum, and further price increases are impossible." Buyers
The higher asking prices of suppliers at 770 euros per ton at the plant were rejected as unacceptable, and these levels were excluded from the daily price index.
Regional supplies remained limited, and major manufacturer thyssenkrupp is still absent from the market due to ongoing renovation work. Daily hot-rolled steel price index
Calculated by Fastmarkets for sale in Northern Europe, it amounted to 742.50 euros per ton on September 8, unchanged from September 7. The indicator decreased by 5.83 euros per ton week-on-week and increased by 25.00 euros per ton month-on-month. In Italy, trading activity remained limited amid continued supply constraints in the domestic market. Although the Ferriera Valsider plant in Metinvest has resumed operations after a previous engine failure, it has not yet returned to producing offers.
Due to problems with the availability of steel production, Acciaierie d'Italia (ADI) is facing a potential shutdown of steel production by October following an August 27 Milan Court of Appeal ruling that threatens to shut down domestic production. Market with just one existing HRC supplier.
Against this background, the acceptable price level in Italy remained at 720-730 euros per ton from the factory on Tuesday.
"There is an increase in prices on the market, but real offers still remain at the same level," said an Italian buyer. "I expect more substantial price increases from EU producers in the next few weeks. The market is experiencing difficulties with steel imports," they added. Daily hot-rolled steel price index
andFastmarkets in the domestic market (exw, Italy), calculated on September 8, amounted to 726.25 euros per ton from the factory, which is 1.25 euros lower than on September 7,
