The market leader was said to be targeting €800 ($930.76) per tonne delivered in Northern Europe, which is netting back to €780 per tonne ex-works.
This was considered high by customers with most recent deals in the region varying within the range of €740-760 per tonne ex-works.
Sources said that the level of €750 per tonne ex-works was most common in recent transactions; however, if a supplier was selling material that may include significant extras, discounts could be applied.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €745 per tonne on September 10, down by €5 per tonne from €750 per tonne on September 9.
The index was down by €3.75 per tonne week on week but up by €27.5 per tonne month on month.
The Italian market remained quiet. While allocation of the material remains limited as Metinvest has not resumed offers since the restart of the Valsider mill, which is reporting a significant backlog, buyers were in no hurry to book volumes available in the market within the range of €730-740 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €732.50 per tonne on September 10, unchanged day on day.
The index was up by €10.83 per tonne week on week and €21.87 per tonne month on month.
The effect of the reduced availability of the material was also seen in Central Europe, where suppliers also raised prices due to the absence of offers from Ukraine.
Ukraine’s sole flat steel supplier Metinvest came under a Russian attack on its Zaporizhstal Iron & Steel Works in mid-August and therefore halted its exports of flat steel.
Offers in the region varied within the wide range of €740-770 per tonne CPT during the week to Wednesday, September 10, which is netting back to €720-750 per tonne ex-works, with the upper end considered unworkable by buyers.
Fastmarkets’ weekly price assessment for steel hot-rolled coil domestic, exw Central Europe was €720-730 per tonne on Wednesday, September 9, up from €715-720 per tonne on September 2.
Later on Wednesday, after the assessment was filed, tradeable levels were estimated within the range of €730-755 per tonne CPT or €710-735 per tonne ex-works.
On Thursday, reports emerged of mills selling at lower levels, reaching €750-760 per tonne delivered or €730-740 per tonne ex-works.
Import
The import market was largely quiet with rare deals heard as buyers have become extremely cautious when it comes to purchasing import material, considering reduced quotas and higher penalties for exceeding them, as well as uncertainties over the final Carbon Border Adjustment Mechanism (CBAM) costs.
A 20,000-25,000 tonne Vietnamese cargo was heard booked at $670 (€576) per tonne CFR in Southern Europe.
Indian HRC was reported traded within the range of $665-680 (€572-585) per tonne CFR, depending on the tonnage.
Following the recent sales, Indian suppliers were said to have withdrawn from the market, with new offers indicated at no less than $700 (€602) per tonne CFR.
An Indian source reported offers as high as $715-725 (€615-623) per tonne CFR.
Turkish material was available within the range of $630-650 (€541-560) per tonne CFR.
Reports of Egyptian HRC offers came at $690-700 (€593-602) per tonne CFR; however, they could not be confirmed by an Egyptian supplier, with one source saying that a new round of offers had not yet begun.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr main port Southern Europe was €540-585 per tonne on September 9, widened upward from €540-565 per tonne on September 2.
On a DDP basis, Turkish material was heard offered in Italy and Greece at €710 per tonne.
Asian material was available within the range of €740-750 per tonne DDP.
Fastmarkets’ weekly price assessment for steel hot-rolled coil import, ddp Southern Europe was €710-740 per tonne on September 9, widened downward from €720-740 per tonne on September 2.
Author: Vlada Novokreshchenova
