“There is no change in the market as people are coming back,” a trader said, adding that they expect changes in the future with the rollout of new trade regulations.
The EU’s Carbon Border Adjustment Mechanism (CBAM) came into full effect on January 1. This is expected to increase the cost of imported steel products while supporting domestic production.
In Northern Europe, offers for HRC varied within the range of €630-650 ($738-761) per tonne ex-works, depending on the month of delivery and the supplier. The upper end of the range reflected offers for March delivery.
Meanwhile, estimates of workable prices were heard at €630 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was €631 per tonne on Wednesday, up by €1 per tonne since Tuesday January 6.
The index was up by €3.50 per tonne week on week and by €8.50 per tonne month on month.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €624 per tonne on Wednesday, up by €0.88 per tonne since Tuesday.
The index was up by €0.88 per tonne week on week and by €10.67 per tonne month on month.
Estimates of workable levels were heard within the range of €610-620 per tonne ex-works, while offers were reported within the range of €630-640 per tonne ex-works.
