Local prices for HRC in Northern Europe and Italy are rising due to a reduction in supply and the recovery of the market after the summer period
Domestic prices for hot-rolled steel (HRC) have increased in both Northern Europe and Italy, driven by limited market availability and renewed trading activity after the end of the summer recession, Fastmarkets sources said on Wednesday, September 2. In Northern Europe, data and offers on Wednesday, it was reported that reasonable prices are in the range of 740-760 euros (858-881 dollars) per ton from the plant, which corresponds to the latest deals announced on Tuesday. According to the sources, higher offers from the plants were offered at a price of 770-790 euros per ton, but these levels were still considered unworkable. Manufacturers
HRC increased their offerings in early September, which was also driven by the limited availability of raw materials in the region due to the partial renovation and maintenance of thyssenkrupp blast furnace No. 2 in Duisburg, which the company announced on September 1.
However, there was no complete production shutdown at the plant. A source in the retail chain said that the placement of the plant was expected, adding that the manufacturer still offers HRC, but at higher prices.
Another trade source said that buyers are hesitant to buy imported material due to uncertainty about additional duties under the steel protection system.
As a result, Fastmarkets' daily hot-rolled steel roll price index in the domestic market, exw in Northern Europe, was calculated at 755 euros per tonne on September 2, up by 6.67 euros per tonne from 748.33 euros per tonne on September 1.
The index rose by 21.25 euros per tonne week-on-week and by 43.75 euros per tonne month-on-month.
In Italy, market activity resumed slightly on Wednesday, with sources reporting higher price levels compared to August. This was quite expected, since most factories were not operating on the market during the summer holidays. It was reported that the latest deals
They were priced at 720 euros per ton from the factory, and the trade source said that this was the "minimum price", while the buyers asked for the material at 710 euros per ton. A ton from the factory.
Reasonable prices were indicated in the range of 710-730 euros per ton from the factory. The offers reached 730 euros and 740-745 euros per ton in stock, but, according to sources, higher levels were considered unfeasible.
"The market is waking up slowly, which contradicts my ideas. They[prices]are still not rising much," said a second industry source.
The date of the restart of the Ferriera Valsider mill, which announced force majeure in late August due to an engine malfunction, was not previously reported. However, a source in the company said that it has not yet offered HRC due to "limited supply for the fourth quarter."