The hot-rolled coils market in Northern Europe continued to show positive dynamics during the week ending Friday, August 28, with market sources reporting higher market prices and offers.
The Italian market was relatively quieter due to supply constraints, while some market participants believed that this would soon lead to prices in Italy equaling those in Northern Europe.
The most recent data on the volumes available for trading in Northern Europe varied in a wide range of 730-750 euros (850-874 dollars) per ton from the factory. A source from among the sellers
andA reported that the price of materials scheduled for delivery in a week or two is in the range of 730-740 euros per ton from the factory, and for materials scheduled for delivery in October is indicated at 740-760 euros per ton from the factory.
Other market sources contacted by Fastmarkets also indicated affordable prices in the range of 730-750 euros per ton from the factory.
At the same time, offers from suppliers from Germany and the Benelux countries ranged from 770 euros per ton from the factory to 800 euros per ton with delivery, which is equivalent to 785 euros per ton from the factory.
,, A daily hot-rolled steel roll with an index in the domestic market, exports to Northern Europe were calculated at 741.25 euros (863.58 US dollars) per ton on August 28, unchanged from day to day.
,The index rose by 19.17 euros per ton for the week and by 19.17 euros per ton for the week. $32.50 per ton per month.
Italy, the market leader, was reported to have increased the offer to 750 euros per ton with delivery or 735 euros per ton with shipment from the factory; however, the most recent available prices ranged from 710-720 euros per ton with shipment from the factory.
However, market participants surveyed by Fastmarkets believed that the level that Fastmarkets was targeting was Market leadership would have been achieved quickly, given the production problems at other suppliers, which, combined with limited imports, lead to reduced availability of the material in Italy.
,Metinvest's Ferriera Valsider recently announced G26Z force majeure due to engine problems.
At the same time, the Italian Confectionery Factory (ADI) may be forced to stop steel production by October 30, 2019, in accordance with a recent court decision.
The daily supply of hot-rolled steel coils to Fastmarkets, the index for domestic consumption, exw in Italy, on August 28, amounted to 717.5 euros per ton, stable from day to day.
The index was raised by 5 euros per ton week-on-week and by 7.81 euros per ton month-on-month.
The import segment was quiet, with minimal shipments during the week until August 28.
