In recent weeks some competitive hot rolled coil import offers have surfaced in the European market, serving to increase the uncertainty already in the market, Kallanish learns from sources.
Indian suppliers have over-used tax-free import allocations, but their offers in some cases continue to be competitive even with the 25% tariff added. Traders report offers from India at as low as €880/t ($1,042) cfr southern Europe, to which the safeguard tax would be added.
“Some competitive prices in the market keep being heard, but the reduction in offers has triggered buyers to enter into a wait-and-see mood,” a trader notes.
Another trader hears offers from Japan at some €1,050/t cfr southern Europe for HRC. Turkish suppliers meanwhile are reported this week quoting at some €960-1,000/t cfr, inclusive of anti-dumping duties. “We heard of a Turkish supplier offering at €990/t cfr southern Europe, but these offers could soon be off the market as soon as Chinese authorities limit HRC exports,” a trader comments.
Emanuele Norsa Italy