Domestic prices for hot-rolled steel coils in Northern Europe and Italy rose slightly on Thursday, October 1, despite buyers' resistance to higher factory prices.
According to one source in Northern Europe, market participants are not ready to accept higher price levels due to significant inventory in warehouses.
According to a market source, import pressure remains limited due to the CBAM carbon emissions regulation mechanism, which gives producers more room to raise prices. However, buyers are still not agreeing with the higher offers of the plants.
In Northern Europe, sources reported price targets at 740-750 euros per ton on exw terms. There were also reports of offers for 760 euros per ton of exw, but no new deals were recorded during the week.
The Fastmarkets daily index for the domestic hot-rolled roll market in Northern Europe on Thursday, October 1, amounted to 748.33 euros per ton. This is 1.45 euros higher than the day before, when the indicator was at around 746.88 euros per ton.
During the week, the index added 6.66 euros per ton and remained unchanged compared to a month earlier.
In Italy, trading activity also remained low. According to market participants, acceptable price levels were in the range of 740-750 euros per ton of exw, while no new offers or deals were reported.
The Fastmarkets index for the domestic hot-rolled roll market in Italy on October 1 was 745 euros per ton. This is 1.25 euros higher than on Wednesday, September 30, when the indicator was fixed at around 743.75 euros per ton.
During the week, the index increased by 7.5 euros per ton, and by 32.5 euros per ton compared to the previous month.