European suppliers of hot-rolled coils continued to push for higher prices this week. In Southern Europe, quotes were supported by limited supply, while in the north of the region, buyers continued to resist price increases amid weak demand and ample supplies.
According to one of the sellers, the key transaction level in Northern Europe remains 740 euros per ton from the plant, but individual contracts are concluded for 760 euros per ton from the plant. The buyer's representative confirmed that 740 euros per ton from the plant is considered an acceptable sales level, noting that factories in the region expect higher prices, but weak demand limits further growth.
Fastmarkets' daily hot rolled roll price index for the Northern European domestic exw market on Tuesday, October 6, amounted to 745 euros per ton, an increase of 3.12 euros per ton compared with 741.88 euros per ton a day earlier, on Monday, October 5. During the week, the index decreased by 1.25 euros per ton, and in monthly terms — by 3.75 euros per ton.
One of the buyers called the Italian market "worrisome," citing the limited availability of the material. Acciaierie d'Italia is in the process of shutting down its blast furnace, Metinvest Group's Ferriera Valsider has accumulated a significant backlog in production, and a resumption of supplies before December looks unlikely. Against this background, Arvedi remains the only stable supplier in the Italian market.
According to sources, on October 6, affordable prices in Italy were in the range of 740-745 euros per ton from the factory. The Fastmarkets daily index for the Italian domestic hot rolled roll market exw was calculated at 745 euros per tonne on Tuesday, October 6, unchanged from the previous day. During the week, the indicator increased by 2.5 euros per ton, and during the month — by 22.29 euros per ton.
As for imports, Taiwanese material was offered at about 765 euros per ton on delivery terms, while offers for Japanese origin were received at about 760 euros per ton on the same terms. The Turkish hot-rolled roll was offered at 560-580 euros per ton CFR.
