A few sources said there had not been any price changes announced since mid-December and estimated workable levels at €630 ($738.22) per tonne ex-works.
This compares with official offers from Northern European mills for February/March-delivery HRC heard at €630-670 per tonne ex-works or delivered before the holidays.
“Today people are telling me the same stories and numbers as mid-December. Some more deciding managers will return by mid or end of this week. Presently people are waiting for impulse, but prices are expected to increase,” one trader told Fastmarkets.
Implementation of the Carbon Border Adjustment Mechanism (CBAM), an environmental policy tool for fair pricing of carbon emissions embedded in steel goods imported to the EU from January 1, will increase the cost of imported steel products, particularly HRC, which will help domestic producers strengthen their positions.
Fastmarkets’ daily steel HRC index domestic, ex-works Northern Europe was €630 per tonne on Monday, up by €2.50 per tonne since January 2.
The index was up by €2.50 per tonne week on week and by €7.50 per tonne month on month.
The Italian market was quiet, with participants expected to return on January 7. No fresh input was received on January 5.
The latest buyer estimates of workable prices came in at €610-620 per tonne ex-works before Christmas.
Offers of February-delivery HRC were heard at €610-640 per tonne ex-works, depending on supplier.
Fastmarkets’ daily steel HRC index domestic, ex-works Italy was calculated at €623.12 per tonne on Monday, stable from January 2.
The index was stable week on week and up by €9.79 per tonne month on month.
