The domestic HRC steel market in Europe is still weak during the holidays
On Monday, May 18, trading in domestic hot-rolled steel markets in Europe remained subdued as public holidays dampened demand.
Last week, several countries in the region celebrated Ascension Day on April 14, and April 15 was declared a public holiday.
And at the end of this week, most countries in the region will celebrate White Sunday on May 24, followed by White Monday. And on June 4, they will celebrate the feast of Corpus Christi.
As a result, market participants did not expect any increase in demand in the coming weeks, and prices remained relatively stable.
In Northern Europe, HRC's offerings, which are scheduled for delivery in July, were estimated at about 700 euros ($833) per ton from the factory. Real price data ranged from 680-695 euros per ton from the factory, and no large orders were heard during the day.
Trade sources reported that June shipments were mostly sold out by factories.
The daily price index for Fastmarkets hot-rolled steel for domestic consumption in Northern Europe (exw), calculated on May 18, was 688.75 euros (819 US dollars) per ton, up 5.00 euros from 683.75 euros per ton on May 15.
The indicator increased by 5.83 euros per ton week-on-week, but decreased by 19.58 euros per ton on a monthly basis.
The Italian market was also mostly calm, with offers coming in at a price of 700 euros per ton from the factory.
It was reported that some orders were placed in the range of 670-675 euros per ton from the factory, and prices available for trade were in a slightly wider range - 670-680 euros per ton from the factory.
As a result, the daily price index for Fastmarkets hot-rolled steel in the domestic market (exw, Italy) on May 18 amounted to 680.63 euros per ton, down by 3.54 euros per ton from 684.17 euros per ton on May 15.
The indicator increased by 4.38 euros per ton week-on-week, but decreased by 17.87 euros per ton on a monthly basis.
As for imports, additional information was circulating on the market that a cargo of Turkish materials was ordered from RApde at a price of 660-690 euros per ton DDP in Italy, as well as an Algerian cargo at a price of 750-760 dollars per ton CFR, but at the time of publication these data were not widely confirmed.
Market sources also reported offers of an Algerian roll at a price of 670 euros per ton compared to Italy and a Turkish roll at a price of 600 euros per ton, excluding anti-dumping duties. It was known that the Asian HRC is available at a price of 640-660 euros per ton per day.
In Northern Europe, interest in imported material was minimal, and buyers claimed that higher freight rates made import prices less competitive than domestic ones.,