HRC prices in the EU remain in range amid bearish sentiment and concerns about regulation
European hot-rolled coil prices remained stable on May 8. Domestic and import markets faced pressure.
"The market is in a rather depressed state, we are likely to see a decrease in prices on the domestic market, and on imports too," says the trader.
There is also growing skepticism about the creation of a carbon boundary adjustment mechanism and whether it will be delayed, with one trader confusing its impact on the domestic market. However, the trader cited that this would cause the import to become quieter in the market.
The source stated the unwillingness of market participants to accept carbon credits, saying that this is an additional risk that the market is not ready to handle yet.
Demand for European HPS remains relatively low, and trader source don't expect much material customs-cleared in December due to weak demand.
On import, the Internet reported from Algeria at $600/t CFR in Italy.
Platz parts and global raw materials conclusions, evaluate the HRC franco-factory in Italy at Eur620/T, the PC KVN of Southern Europe at Eur530/t, as stable since May 7.
Platts accrued on human rights in Northwest Europe at Eur645/t on EXW terms Ruhr on May 8 and import HRC in Northern Europe at Eur540/T CIF Antwerp on May 8, both stable, from May 7.
spglobal.com