Buyers in the European hot-rolled coil market were looking at countries not subject to the safeguard measures for imported HRC, even as domestic prices remained under pressure July 18.
“People are looking for alternative imports from other countries, such as Indonesia, Turkey, Egypt, etc,” a Germany-based distributor source said. “They don’t want to risk buying from countries subject to the safeguards. Companies from these alternative countries are trying to enter the European market.”
Platts assessed imported HRC in South Europe stable on the day at Eur590/mt CIF Italy.
A deal for 20,000-50,000mt of imported HRC was reported at Eur580/mt CFR Italy for material originating from Australia. Offers were reported at Eur600/mt CIF Italy for material originating from Asia, and at Eur620/mt CIF Italy for material originating from Turkey.
Meanwhile, Platts assessed imported HRC in Northwest Europe stable on the day at Eur600/mt CIF Antwerp.
Sources said the market remains under pressure as customers seek lower prices or prefer to wait, as restocking activity and end-user demand remains weak.
“Demands is stable, but at low levels,” another distributor source said. “Customers are seeking lower prices and are happy to wait. Service centers are focusing on industrial segment, but there is a lot of downward pressure on prices.”
Platts assessed Northwest European HRC stable on the day at Eur620/mt ex-works Ruhr July 18.
Tradable values were reported at Eur600-640 ex-works Ruhr, but the indications at the lower end of the range were for larger volumes above Platts specifications of 100-1,000mt.
Offers were heard at Eur630-640/mt ex-works Ruhr.
Meanwhile, Platts assessed domestic HRC prices in Southern Europe stable on the day at Eur625/mt ex-works Italy July 18.
Tradable values were reported at Eur620/mt ex-works Italy and offers were reported at Eur640-650/mt ex-works Italy.
