European prices for thick-rolled products declined in the week to Thursday, June 11, due to weak demand and sufficient stocks, Fastmarkets sources said.
Southern Europe
During the week, offers were received for the sale of base grade sheet steel at a price of 720-760 euros (833-879 dollars) per ton from the manufacturer, which is slightly lower than the last sale prices in June at 730-750 euros 4.
The price range of 720-730 euros per tonne from the plant was associated with higher volumes of supplies in July-August, while offers at the price of 740-760 euros per tonne from the plant were lower. According to sources, this is due to the lower tonnage.
"Sheet metal producers in the Northern and southern parts of the EU are looking for orders for the third quarter, as demand is constantly decreasing," a source at the trading company said on June 9, adding that this led to lower prices in the range of 10-20 euros per ton.
The same source said that distributors in Southern Europe were facing "even more difficult times, as demand has also decreased and prices for slabs are difficult to raise," adding that there were still sufficient slabs at more or less reasonable prices in local "port warehouses."
Fastmarkets' weekly price estimate for domestic 8-40 mm thick rolled steel exported to Southern Europe was 720-740 euros per ton on Thursday, compared with 730-750 euros per ton a week earlier.
A source in one of the manufacturers said that the import prices of rolled steel to Southern Europe are 720-730 euros per ton, excluding any additional duties.
Meanwhile, higher offers of 740-775 euros per tonne CFR were received from Asia, including the cost of the Carbon boundary adjustment mechanism (CBAM), which were not taken into account in the assessment and covered the base prices.
The most advantageous import offer was announced - 780-800 euros per ton per day, but it was not included in the CFR estimate. According to market sources, buyers were not interested in all levels of supply.
Fastmarkets' weekly price estimate for steel sheet (8-40 mm) imported from CFR's main port in Southern Europe was 700-750 euros per tonne on Thursday and Monday, unchanged from April 16.
Northern Europe
Offers for steel sheet in Germany were presented at a price of 790-850 euros per ton from the factory, which is slightly lower than in June in the range of 800-850 euros per ton from factory 4.
Higher figures were reported, reaching 830-880 euros per tonne from the plant, but the range of 840-880 euros per tonne from the plant was mainly related to the long-term contract prices, according to sources, therefore were not taken into account in the assessment.
"Demand is minimal, besides, the war in the Middle East is keeping investors on the sidelines," he said.
