In Southern Europe, local producers were aiming for €750 ($806) per tonne EXW for CRC and €770-780 per tonne EXW for HDG.
Mills in the region could largely offer coil for October delivery.
Buyers, however, estimated tradable values lower at €730-740 per tonne EXW for CRC and €750-760 per tonne EXW for HDG coil.
Continuing demand from end-use sectors, including automotive and construction, was the major stumbling block for a price rise, market sources said.
Restocking mills are hoping for an increase in demand that is likely to happen only in the second half of September and will be limited, sources said.
“Most buyers have sufficient stock and in fact are trying to lower their inventories. My impression is that due to low activity in the construction market and threatening downturn in automotive sector nothing spectacular will happen. Besides high interest rates don’t stimulate investments,” a trading source in Europe said.
Fastmarkets’ weekly price assessment for steel CRC domestic, exw Southern Europe was €740-750 per tonne on Wednesday, down by €10 per tonne from €750-760 per tonne the week before.
The corresponding weekly price assessment for steel HDG domestic, exw Southern Europe was set week at €760-770 per tonne on Wednesday, down by €10-20 per tonne week on week from €770-790 per tonne.
Import offers for CRC and HDG were largely stable during the assessment week, sources said.
Asian suppliers were offering material for shipment in mid-October/early November, which would mean arrival would be in November and December.
One mill from South Korea was offering CRC to Southern Europe at €685 per tonne CFR.
Japan-origin CRC was on offer to Southern Europe at €695-700 per tonne CFR.
A Vietnamese supplier was said to be aiming for $830-840 per tonne CFR for 0.5mm HDG with z100-120 coating, for October shipment.
Published by: Julia Bolotova