Prices for rolled steel products in Europe remained unchanged amid new orders in Italy and subdued growth in the Nordic market.
Prices for rolled steel products in Europe remained stable during the week until Thursday, February 5, thanks to new deals in the Italian market amid healthy demand and optimistic sentiment.
Italy
There were reports of new orders for the supply of rolled steel from Italy in the domestic market at a price of 700-720 euros (827-851 dollars) per ton on exw terms, but the offers remained at a higher level - 720-750 euros per ton on exw terms.
Fastmarkets' weekly price estimate for domestic 8-40 mm thick rolled steel exported to Southern Europe was 700-720 euros per ton on Thursday, unchanged week-to-week.
And, given the high demand, manufacturers began to refocus on supplies in the second quarter, the sources said.
Fastmarkets employees have heard that the special price for projects for the second and third quarters of the year is estimated at 730-750 euros per ton, excluding VAT.
Northern Europe
Market sources told Fastmarkets that the prices of thick-rolled products also did not change during the pricing period, while trading in the domestic market was limited.
Fastmarkets' weekly price estimate for domestic 8-40 mm thick rolled steel exported to Northern Europe on Thursday was 750-780 euros per ton, unchanged week-to-week.
However, some small intra-regional transactions from Italy to Germany have been reported at a price of 770-780 euros per ton of exw.
"The CBAM effect provides strong support," said a source from among the manufacturers.
Import
Import offers were also reported during the week, but they were excluded from Fastmarkets' estimated prices for imported plates for Southern and Northern Europe, as the offers were DDP-based and therefore did not meet the specification.
Import offers from Indonesia came to Southern Europe at a price of 690-700 euros per ton per day, while offers for Indian material came to Germany at a price of about 730-740 euros per ton per day.
Written by Holly Chant
Fastmarkets.com