The expectations of buyers and sellers in the European HRC steel market differ
The perception of market trends in various regions of the European hot-rolled steel coil sector with sellers being more positive than buyers, Fastmarkets learned Tuesday, May 13.
Sale sources reported offers from key suppliers varying between €660-680 ($738-760) per tonne in Northern Europe, and estimated workable prices ranging from €640-660 per tonne of Ex-work.
At least two major factories had their own books of the same and so there was no reason to lower prices.
However, the highest booking price was heard on Tuesday at €650 per ton of Ex-work.
At the same time, customers were less optimistic about the market trend, adding that trading was now hand to mouth, both from the mill to distributors and from distributors to end consumers.
The purchase on the source's side was reported at $640 per ton on a free-of-charge basis from a repeat roll in Northern Europe.
Fastmarkets daily calculation by Vlad Novokrestenov
fastmarkets.com