Manuchar Steel joins as Member of EUROMETAL
EUROMETAL is delighted to welcome Manuchar Steel as a new Member company.
Headquartered in Antwerp, Belgium, Manuchar Steel is a global supplier of steel products and part of the Manuchar Group, a leading distributor of chemicals and raw materials in emerging markets.
With specialized procurement offices in key locations such as Turkey, India and China, Manuchar Steel maintains direct relationships with steel producers worldwide, enabling the sourcing and shipping over 1.2 million tons of steel annually.
The company’s product portfolio includes a wide range of steel products, including flat and long carbon steel, wire products, and specialty steels. These materials are used for various industries, such as automotive, home appliances, construction, and others.
By joining EUROMETAL, Manuchar Steel aims to contribute to the ongoing development of the steel industry and foster collaboration within the European market.
Discover more: manuchar.com
EUROMETAL: Semi-finished and finished products need to be included in protective measures for level playing field
The European Federation of Associations of Steel, Tube and Metal Distributors (EUROMETAL) has made some evaluations during the Strategic Dialogue on Steel hosted on March 4 by Ursula von der Leyen, president of the European Commission, bringing together key industry leaders to address the future of the European steel industry.
EUROMETAL stated that fair competition is vital for the steel industry. Yet, given that 7.4 million people are employed in the industry, it is also significant to create a level playing field, which can be ensured by including import semi-finished and finished products that are flowing to the EU without any limitations in protective measures. Since Europe is located between the US and China, boosting its distribution, processing and manufacturing is even more crucial to promote innovation and to provide a basis for sustainable industrial activities, EUROMETAL said.
Additionally, the federation also reiterated its intention to actively participate in the working group of the Carbon Border Adjustment Mechanism, ensuring that regulations are realistic for EU declarants.
EU HRC prices rise; market awaits clarity on safeguard investigation
European hot-rolled coil prices strengthened March 5, as mill sources pointed to higher offers due to limited import opportunities and ongoing regulatory uncertainty.
Market participants focused on uncertainty surrounding trade flows due to the European Commission’s safeguard investigation, coupled with a recent spate of anti-dumping investigations in Asia. Import offers have been unattractive for European buyers, partly due to the reduced cost differential with domestic mill prices, as well as concerns about additional quota duties.
A North European mill source confirmed higher offer levels of Eur650 ex-works Ruhr but reported sluggish market conditions. In discussing recent announcements from the EC, the source expressed optimism about future industry activity. “The steel action plan was good, and it shows that the Commission is acting to have strong manufacturing in Europe,” he said. “The simplification of CBAM is also good news for the industry.”
German producer Salzgitter issued a force majeure on its coil deliveries following a fire at the firm’s hot strip mill. Market reactions to this development were mixed, with one source expecting marginal support to domestic prices but “nothing significant” due to poor demand.
An Italian seller also pointed to higher prices, reporting a target price of Eur640/mt to Eur650/mt ex-works Italy, but noted stagnant demand conditions in anticipation of the safeguard news. “It is very quiet on demand. Our customers are not selling a lot. Automotive is still weak, and people are waiting for the safeguard news to show,” he said. “There could still be many different scenarios, we will wait and see.”
Platts assessed HRC in Northwest Europe at Eur620/mt ex-works Ruhr on March 5, up Eur2.50/mt from the previous session. In Southern Europe, HRC was assessed at Eur615/mt ex-works Italy, up Eur10/mt day over day.
Platts assessed imported HRC in Northwest Europe as unchanged at Eur550/mt CIF Antwerp, while the imported HRC CIF Southern Europe price increased by Eur5/mt to Eur550/mt CIF.
Platts is part of S&P Global Commodity Insights.
European CRC, HDG prices increase on limited availability
The upward trend was even stronger in the Northern European market due to force majeure circumstances, affecting production of German steelmaker Salzgitter’s hot-rolling mill, Fastmarkets understands.
A fire occurred at the hot-rolling mill at Salzgitter Flachstahl in southeast Lower Saxony, Germany on February 28, which limited deliveries and production for hot-rolled, cold-rolled and hot-dipped galvanized coil, Fastmarkets reported.
According to industry sources, this event could support the domestic flat steel prices up further in Germany.
Northern Europe
Mills in Northern Europe were heard offering mid-May/June delivery CRC at €730-750 ($769-790) per tonne ex-works, industry sources told Fastmarkets.
In comparison, lower offers were available in the market at €710-740 per tonne ex-works in the previous assessment week.
Fastmarkets’ sources estimated the tradeable market level for CRC during this assessment week at €720-740 per tonne ex-works, with some buyers saying that €700 per tonne ex-works could still be negotiated.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Northern Europe was €700-740 per tonne on Wednesday, increasing by €10-30 per tonne from €690-710 per tonne on February 26.
Some small volume transactions with imported CRC from Taiwan and South Korea were heard at €670 per tonne CFR Antwerp, industry sources told Fastmarkets.
An upward trend was also observed with the domestic HDG prices in Northern Europe, Fastmarkets understands.
Offers of the material were heard at €740-750 per tonne ex-works, with buyers estimating the workable market level at €720-740 per tonne ex-works.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was €720-740 per tonne on Wednesday, increasing by €5-10 per tonne from €710-735 per tonne on February 26.
Asia-origin imports of HDG to Northern Europe were considered unattractive due to the trade risks and the fast exhaustion of the current quotas, industry sources told Fastmarkets.
Italy
CRC and HDG prices in Italy were also increasing gradually during the assessment week to Wednesday March 5, industry sources told Fastmarkets.
The latest offers of domestic CRC heard available in the market were €710-740 per tonne ex-works, Fastmarkets understands.
However, buyers’ estimations for the tradeable market level were lower at €700-710 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Southern Europe was €700-710 per tonne on Wednesday, up by €10 per tonne from €690-700 per tonne on February 26.
Asian suppliers were heard offering CRC in the Italian market at €650-660 per tonne CFR.
Indian suppliers were heard selling some CRC volumes to Italy at €650 per tonne CFR, industry sources told Fastmarkets.
Regarding domestic HDG prices, local suppliers were heard offering the material at €730-740 per tonne ex-works.
Buyers’ estimations for the tradeable market level were at €720-730 per tonne ex-works.
Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, exw Southern Europe was €720-730 per tonne on Wednesday, up by €20 per tonne from €700-710 per tonne on February 26.
European heavy plate prices largely unchanged amid limited trading
Italy
In Italy, offers for S275 heavy plate were reported by buyers and sellers at €660-670 ($695-706) per tonne ex-works, while transaction were heard at lower levels of €640-650 per tonne ex-works, Fastmarkets heard.
Traded volumes were still limited because buyers were monitoring the market, awaiting clarity on the safeguard measures.
Some suppliers were heard to be accepting €630 per tonne ex-works for bigger volumes, market sources said.
But most re-rollers in the region agreed that lower prices were no longer possible due to the mounting costs of production – notably, higher prices for imports of slab, the feedstock for plate production.
“Considering slab prices of $500-520 [per tonne] CIF, €650 per tonne ex-works for heavy plate is not a luxury, but necessary to break even,” a mill source told Fastmarkets.
As a result, Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged on Wednesday at €640-650 per tonne.
The latest weekly price assessment for steel slab, import, cif Italy, increased to $490-530 per tonne on February 28, from $480-520 per tonne on February 21.
Revised European safeguard measures were expected to come into force in April, with tougher measures widely expected, and this was tempering buying interest in overseas material, market sources said.
Nonetheless, bookings of May-shipment heavy plate from Indonesia to Spain and Italy were reported in late February at €570-580 per tonne CFR.
Northern Europe
Fastmarkets’ weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was €690-700 per tonne on Wednesday, narrowing upward by €10 per tonne from €680-700 per tonne seven days before.
In Northern Europe, trading activity in the spot market remained limited, market sources said. Stockholders had sufficient material in stock and were not under pressure, Fastmarkets understands.
One German mill, traditionally focused on project business, was offering heavy plate with lead times of around six weeks at €750-790 per tonne ex-works.
Another German supplier was offering plate at €700-730 per tonne from one location and €680-700 per tonne from another.
Estimates of tradeable values from buyers were reported at €680-700 per tonne ex-works, with most indications coming in at €690-700 per tonne ex-works.
A re-roller in the Czech Republic was offering S275-grade plate at €670 per tonne ex-works, but mainly to locations in Central Europe. Achievable prices for such material were reported at €650-660 per tonne ex-works. The mill was well-booked and was already offering for delivery in May.
Fire at Salzgitter’s hot rolling mill interrupts flat steel production, deliveries
The fire occurred at the hot-rolling mill at Salzgitter Flachstahl in southeast Lower Saxony, Germany on February 28, the company said in the letter.
The cause of the incident was not disclosed.
“Due to damage and consequently the necessary emergency reparations, production in our hot-strip mill is currently disrupted,” the letter reads.
“Since our integrated steel mill doesn’t have additional hot-strip mills, the production plants that follow the hot-strip mill within our production process will presumable not able to produce with full capacity until the necessary reparations are complected,” it continues.
The company said it hopes to resume operations “as soon as possible,” but did not specify a timeline.
Salzgitter’s spokesperson did not reply to Fastmarkets’ request for comment before the time of publication.
Salzgitter Flachstahl, located in the city of Salzgitter is the company’s major steelmaking asset in Germany, comprising three blast furnaces with a combined capacity of more than 4 million tonnes per year of pig iron. The Flachstahl facility produces about 3.5 million tpy of hot-rolled coil, 1.8 million tpy of cold-rolled coil and 1.4 million tpy of coated flat steel, according to Fastmarkets data.
Expected supply tightness bullish for prices
Market sources told Fastmarkets that the incident at Salzgitter, as well as limited imports amid a steel safeguards review could support domestic flat steel prices up further in Germany.
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at €629.04 ($662.47) per tonne on Tuesday, up by €1.12 per tonne from €627.92 per tonne on the previous day.
The Northern European index was up by €8.41 per tonne week on week and by €35.29 per tonne month on month
Official offers were reported at €640-660 per tonne delivered (€630-650 per tonne EXW) in Germany, with a transaction heard done at €630 per tonne EXW earlier this week.
Downstream products prices – CRC and HDG – has already started reacting on news about supply disruption.
According to industry sources, the tradeable market price for both CRC and HDG in Germany this week was close to €740-750 per tonne delivered, which would net back to €730-740 per tonne ex-works.
The official offers of the German mills for mid-May/June delivery CRC and HDG were heard at €750-760 per tonne delivered, which equals €740-750 per tonne ex-works.
By comparison, Fastmarkets’ weekly assessment for steel cold-rolled coil domestic, exw Northern Europe stood at €690-710 per tonne ex-works on February 26, two days before the incident.
And Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was at €710-735 per tonne ex-works on February 26.