The European HRC market remains unchanged amid calm trading
On Monday, February 9, the domestic European hot-rolled steel market was quiet, trading activity was limited, and prices remained virtually unchanged.
Offers from European manufacturers of flat rolled products for delivery in April still ranged from 670-685 euros (791.51-809.24 dollars) per ton from the factory.
Both sellers and buyers reported signing contracts in the range of 645-655 euros per ton from the plant. However, trading activity has been moderate as buyers' inventories remain high.
The daily price index for Fastmarkets hot-rolled steel coils for sale in Northern Europe on Monday was 653.33 euros per ton, down by 2.92 euros per ton from 656.25 euros per ton on Friday, February 6.
The indicator increased by 2.50 euros per ton week-on-week and by 18.33 euros per ton on a monthly basis.
It was reported that HRC of Italian origin was supplied to Northern Europe at a price of 655-660 euros per ton.
A similar situation was observed in the Italian domestic market. Local suppliers mostly sold out the rolls for delivery in March, and the prices for rolls for delivery in April are 660-685 euros per ton from the factory.
Meanwhile, the prices available for trading continued to fluctuate between 640-650 euros per ton in stock.
Fastmarkets' daily hot-rolled steel roll price index in the domestic market, exw in Italy, was 645.00 euros per ton on Monday, down by 2.92 euros per ton from 647.92 euros per ton on Friday.
The indicator decreased by 6.67 euros per ton week-on-week, but increased by 15.00 euros per ton month-on-month.
Author: Vlada Novokreschenova
Fastmarkets.com