European hot-rolled coil suppliers continued to push for higher prices this week, with limited availability supporting prices in Southern Europe, while buyers in the North remained resistant to increases amid weaker demand and sufficient inventories.
A seller source confirmed that €740 ($829.27) per tonne ex-works was the key tradeable level in Northern Europe but added that transactions take place up to €760 per tonne ex-works.
A buyer source reported an indication of a tradeable level at €740 per tonne ex-works, adding that mills in the region target higher prices but slow demand is limiting the acceptance.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at €745 per tonne on Tuesday October 6, up by €3.12 per tonne from €741.88 per tonne on Monday October 5.
The index was down by €1.25 per tonne week on week and down by €3.75 per tonne month on month.
The Italian market was called “concerning” by one of the buyers, citing limited availability of the material in the market. Acciaierie d’Italia (ADI) is in the process of shutting down its blast furnace while Metinvest’s Ferriera Valsider has a significant backlog with only minor potential availability for December. This makes Arvedi the sole stable supplier in the Italian market.
A buyer source reported tradeable levels varying within the range of €740-745 per tonne ex-works on October 6.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €745 per tonne on Tuesday October 6, stable day on day.
The index was up by €2.5 per tonne week on week and by €22.29 per tonne month on month.
On the import side, Taiwanese material was heard available at around €765 per tonne DDP, while Japanese-origin offers came at around €760 per tonne DDP. Turkish hot-rolled coil (HRC) was reported offered at €560-580 per tonne CFR.
