Buyers of hot-rolled coils in Europe have resisted attempts by local suppliers to raise prices, citing weak real demand. At the same time, sellers were under pressure due to rising energy costs and reduced material availability from a number of regional manufacturers.
One of the major market participants, according to sources, expected to receive about 800 euros per ton for delivery to Northern Europe, which corresponds to about 780 euros per ton on an export basis. The buyers considered this level to be too high, since the latest offers in the region were in the range of 740-760 euros per ton from the factory.
According to sources, the level of 750 euros per ton from the plant was most often mentioned in recent transactions. At the same time, in the case of supplies of material with additional costs, discounts could be provided.
The Fastmarkets index for hot-rolled coils for the domestic market in Northern Europe, calculated on September 10, amounted to 745 euros per ton, down by 5 euros per ton compared to September 9. During the week, the index dropped by 3.75 euros per ton, but during the month it increased by 27.5 euros per ton.
The Italian market remained sluggish. Although the supply of raw materials is still limited, as Metinvest did not resume sales after the restart of Valsider, where there remains a significant backlog, buyers were in no hurry to place orders for available volumes at 730-740 euros per ton from the factory.
The Fastmarkets daily index for hot-rolled steel in the Italian domestic market, calculated on September 10, amounted to 732.50 euros per ton and remained unchanged from the previous day. During the week, the indicator increased by 10.83 euros per ton, and during the month — by 21.87 euros per ton.
A decrease in the availability of the material was also noted in Central Europe. Suppliers raised prices against the background of the lack of Ukrainian offers.
The only Ukrainian manufacturer of hot—rolled coils, Metinvest, stopped exporting these products after Russia attacked the "Zaporizhstal" metallurgical plant in mid—August.
In the Central European market, the offers during the week up to Wednesday, September 10, were in the wide range of 740-770 euros per ton excluding VAT, which corresponded to about 720-750 euros per ton on terms from the factory. At the same time, buyers considered the upper limit of the range to be non-market.
According to Fastmarkets, the weekly price of hot-rolled coils for the domestic market in Central Europe on Wednesday, September 9, was 720-730 euros per ton, while on September 2 it was at the level of 715-720 euros per ton. Later on Wednesday, transactions and discussed levels were estimated in the range of 730-755 euros per tonne of CPT or 710-735 euros per tonne from the plant. On Thursday, there were reports of sales at lower levels — at 750-760 euros per ton with delivery.
