Domestic prices for HRC in Europe decreased slightly, the market expects new rules
Prices for hot-rolled steel coils in Europe declined slightly on Wednesday, December 10, amid subdued trading as the market awaits the introduction of new regulations, Fastmarkets sources said.
According to sources, the market is still waiting for more clarity on upcoming regulations, including the EU Carbon Boundary Regulation Mechanism (CBAM), which will enter its final phase on January 1.
In Northern Europe, estimates of real prices for HRC were announced in the region of 610 euros ($709) per ton from the factory.
There were no reports of transactions during the day.
The daily price index for Fastmarkets hot-rolled steel in the domestic market, exw in Northern Europe on Wednesday was 619.58 euros per ton, down by 3.23 euros per ton from 622.81 euros per ton on Tuesday, December 9.
The indicator increased by 2.08 euros per ton week-on-week and by 9.58 euros per ton month-on-month.
In Italy, estimates of real prices in the range of 600-610 euros per ton from the factory were announced. No new deals were reported.
The daily price index for Fastmarkets hot-rolled steel coils in the domestic market, with delivery to Italy on Wednesday was 612 euros per ton, down by 1.75 euros per ton from 613.75 euros per ton on Tuesday.
The indicator increased by 11.17 euros per ton week-on-week and by 15.75 euros per ton month-on-month.
Author: David Montagnier
Fastmarkets.com