European HRC prices have dropped slightly, the market is expecting new rules
Prices for hot-rolled products in Europe decreased slightly on Wednesday, December 17, while demand remains low, as market participants are in no hurry to deal with "urgent" matters before the holidays, Fastmarkets reported.
The factories' order book is "satisfactorily" filled, while market demand remains "not so brisk" as the holiday period approaches, a source in the distribution company said.
Nevertheless, the factories' forecast for the coming year remains "positive," as new trade measures are expected to reduce imports, the source also said.
In Northern Europe, estimates of acceptable levels in the range of 610-630 euros (717-740 dollars) per ton after production were announced.
Fastmarkets' daily hot-rolled steel roll price index for sale in Northern Europe was 623.33 euros ($732.61) per tonne on Wednesday, down 0.21 euros per tonne from 623.54 euros per tonne on Tuesday.
The indicator increased by 3.75 euros per ton week-on-week and by 10.83 euros per ton on a monthly basis.
In Italy, estimates of real prices in the range of 600-620 euros per ton from the factory were announced. During the day, a deal was also reported at the level of 610 euros per ton from the plant.
Fastmarkets' daily domestic hot-rolled steel price index, exw in Italy, was 612.50 euros per tonne on Wednesday, down 0.83 euros per tonne from 613.33 euros per tonne on Tuesday.
The indicator increased by 0.50 euros per ton week-on-week and by 12.50 euros per ton month-on-month.
Author: David Montagnier
Fastmarkets.com