Domestic prices for hot-rolled steel decreased slightly in Italy and remained almost unchanged in Northern Europe, while on Wednesday, August 5, the market was mostly quiet and no significant changes were reported, Fastmarkets sources said. . . In Northern Europe, offers were priced at 715-750 euros (823-864 dollars) per ton from the factory, while the material delivered in September was still available on the market, although the upper limit of the range did not arouse the interest of buyers. Meanwhile, reasonable prices were indicated at the level of 715-730 euros per ton from the factory. Sources ,
,It was reported that the market was quiet and only small batches were available for sale. On the other hand, the distributor reported that there are sufficient stocks in the ports of Antwerp, adding that the real effect of the reduction in import quotas will be felt in September-October.
"It's the height of summer. Nobody buys anything. Everyone is concerned about customs formalities and CBAM[There is no mechanism for border adjustment of carbon emissions]in relation to what was received earlier, and there is little demand for it," a trade source said on Wednesday.
It was reported that on Tuesday, August 4, the previous acceptable prices were fixed at the level of 710-740 euros per ton from the plant, which were postponed to the index on August 5 due to the limited supply of fresh products on Wednesday.
"Demand is very weak (and we don't have a real holiday season in Germany), so I'll see the first large volumes by the end of August, and then we'll probably judge prices," said a second trade source, without specifying achievable levels.
As a result, Fastmarkets' daily domestic hot-rolled steel price index, exw in Northern Europe, was calculated at 716.67 euros per tonne on August 5, up 0.42 euros per tonne from 716.25 euros per tonne on August 4.
The index rose by 8.67 euros per tonne week-on-week and by 21.67 euros per tonne month-on-month.
Activity in the Italian HRC market was very low due to the traditional August summer vacation period. It was reported that the prices for
andThe cost from the factory is 710-715 euros per ton, and reasonable prices were indicated in the range of 700-710 euros per ton from the factory.
The corresponding daily price index for Fastmarkets hot-rolled steel for sale domestically and on exw terms in Italy was calculated on August 5 at 708.75 euros per ton, which is 1.88 euros lower than 710.63 euros per ton the day before.
The index rose by 1.25 euros per tonne week-on-week and by 32.08 euros per tonne month-on-month.
Author: Ivelina Nikolova.
fastmarkets.com