Import prices of HRC steel from Europe have increased amid limited supply and higher costs
European import prices for hot-rolled steel rose a week before Wednesday, March 25, amid limited supply and rising transportation costs.
The escalation of the conflict between the United States, Israel and Iran has affected import routes, especially from Asia, increasing the cost of transportation. Meanwhile, the mechanism for regulating carbon dioxide emissions at the EU border (CBAM) remains a key factor putting pressure on import volumes, according to Fastmarkets.
Fastmarkets' weekly price estimate for hot-rolled steel coils, imports, CFR's main port in Northern Europe, was 608-685 euros (704-794 dollars) per ton on Wednesday, compared with 570-575 euros per ton the previous week.
Offers from Turkey, including duties, were presented at the level of 685 euros per ton CFR, while other offers from Asian producers were in the range of 608-630 euros per ton CFR.
Fastmarkets' weekly price estimate for hot-rolled steel coils, imports, CFR's main port in Southern Europe, was 640-690 euros per ton, up from 570-640 euros per ton in the previous week.
Offers from Turkey came at a price of 640-655 euros per ton CFR, and offers from Algeria to Spain for delivery in June came at a price of 690-710 euros per ton CFR.
DDP estimates for HRCs imported to Northern and Southern Europe also increased in the week to Wednesday.
The import proposals for HRC to Southern Europe, including the costs associated with CBAM, were estimated at 740-775 euros per ton per day. Estimates of 720 euros per ton per day were also announced.
Fastmarkets' weekly estimate of prices for hot-rolled steel, imports, ddp in Southern Europe was 720-740 euros per ton, compared with 640-670 euros per ton in the previous week.
The corresponding estimate of prices for hot-rolled steel coils, imports, ddp in Northern Europe was 720-740 euros per ton, compared with 650-670 euros per ton in the previous assessment period.
The updated estimate corresponds to the estimates of achievable levels, which were also announced at 720-740 euros per ton per day.
Author: David Montagnier
Fastmarkets.com