EU traders highlight rising coil import sentiment

Traders active in coil imports into Europe have highlighted rising sentiment this week, mainly supported by the Turkish and CIS markets.

According to Kallanish price series, import transaction prices for hot rolled coil into southern Europe dropped during August and September. Levels are now seen recovering from the low reached at the start of October.

“Turkish suppliers are trying to raise their offers on a weekly basis, particularly for CRC and HDG,” a trader notes. He reports hearing CRC from Turkey quoted at €1,020/tonne ($1,188) cfr southern Europe, but adds this level could well move up in the coming days.

Another trader confirms the rising sentiment. He believes this will ease pressure on European domestic mills in the coming weeks.

Indian suppliers of HRC are reported to be silent at the moment, having rapidly filled EU import quotas for the fourth quarter. Turkish suppliers are offering HRC at €920-930/t cfr Italy, but some believe transaction prices might be somewhat lower. From Ukraine, offers for HRC are at below €900/t cfr Italy, but still recovering from lower levels registered in early October.

Emanuele Norsa Italy