Domestic prices for HRC in Europe rose slightly against the background of limited imports
Prices for hot-rolled coils in Europe in the domestic market rose slightly on Wednesday, March 11, amid difficult market conditions for importers and rising production costs, Fastmarkets reported.
Market sources said concerns remain about imported materials, with import flows affected by the introduction of the EU Carbon Boundary Regulation Mechanism (CBAM) earlier this year, as well as other trade rules.
In addition, the market situation remains unclear after the escalation of the US-Iranian conflict, according to sources, which led to a sharp increase in energy and raw material prices, as well as logistics and transportation costs.
Meanwhile, a source on the buyer's side said that although the real level of demand in European markets remains low, speculative demand is high as a result of the conflict and changing geopolitical dynamics.
The daily price index for Fastmarkets hot-rolled steel in the domestic market, exw in Northern Europe, calculated on March 11, was 705.98 euros (816.89 US dollars) per ton, which is 1.60 euros higher than 704.38 euros per ton on Tuesday, March 10.
Proposals were announced at the level of about 710-720 euros per ton of finished products. Meanwhile, estimates of an acceptable level in the region of 700-710 euros per ton of finished products were announced.
The indicator increased by 10.41 euros per ton week-on-week and by 53.48 euros per ton on a monthly basis.
In Italy, offers were announced at a price of 700 euros per ton from the factory, while real prices were estimated at about 680-690 euros per ton from the factory.
The daily price index for Fastmarkets hot-rolled steel in the domestic market, exw in Italy, on Wednesday was 688.75 euros per ton, which is 1.25 euros higher than 687.50 euros per ton on March 10.
The indicator increased by 12.50 euros per ton week-on-week and by 41.58 euros per ton month-on-month.
Author: David Montagnier
Fastmarkets.com