Traders in the EU coil market are finding it difficult to assess current import offers as they are increasing on a daily basis, Kallanish hears from sources.
Indian suppliers are mostly silent as they await more clarity in the market. Traders are also concerned because of the uncertainty surrounding EU safeguard measures, as customers are not sure how quickly second-quarter quotas will be exhausted and if they will be extended in Q3.
“Some competitive offers were available from Egypt,” says a trader, giving a value of €690-700/t ($822-834) cfr Italy for hot rolled coil. Another trader in Spain though says these levels have already been surpassed, at a minimum of €720/t cfr southern Europe.
A service centre source confirms imports are difficult at the moment. “Prices are soaring every day; even from Turkey with the duty added the price this week is €735-740/t cfr southern Europe, in line with domestic products,” he noted last Thursday.
Emanuele Norsa Italy