Hot-rolled coil buyers from Europe are gradually accepting higher prices from local suppliers, but the pace is moderate as customers’ inventories and port stocks are ample, Fastmarkets heard on Friday January 30.
Offers from integrated mills in Northern Europe come at €670-685 ($801-819) per tonne ex-works for April delivery coil with sporadic bookings heard done at the level of €650 per tonne ex-works.
March-delivery HRC was heard to be largely sold out, with only limited availability left at some suppliers. Offers were heard coming at €650 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe was €650.00 ($777.60) per tonne on Friday, down by €5.83 per tonne from €655.83 per tonne on January 29.
The drop in the assessment reflected buyers at a crossroads, with current inventories and port stocks said to be sufficient, rather than indicating a trend reversal.
The index was up by €7.5 per tonne week on week and by €22.5 per tonne month on month.
In Italy, domestic HRC offers were reported varying within the range of €630-650 per tonne ex-works on Friday, with recent bookings said to be done within the range of €630-635 per tonne ex-works.
No major bookings were reported during the day.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €638.00 per tonne on Friday, January 30 versus€ 643.33 per tonne on Thursday, reducing by €5.33 day on day.
The index was up by €3.00 per tonne week on week and by €14.88 per tonne month on month.
