Offers from mills in Northern Europe for HRC with July lead times were heard at €620-650 ($707-742) per tonne ex-works or delivered
Italy-origin coil was offered to Germany at €630 per tonne delivered.
Buyers’ estimations of tradable values were heard at €590-620 per tonne ex-works.
Several buyers reported a transaction from one major mill in the region around €600 per tonne delivered in Germany, which nets back to about €585-590 per tonne ex-works, but it was not confirmed by the seller.
Another source said the same deal was done at €595 per tonne delivered.
“Before this year’s end, we will see more price drops. Demand is just not there, US imposes 50% tariffs on steel, CBAM is approaching. [There’s] no light in the end of the tunnel,” a buyer in Germany said.
As a result, Fastmarkets’ calculation of the daily steel hot-rolled coil index, domestic, exw Northern Europe was €612.50 per tonne on Wednesday, down by €14.38 per tonne compared with €626.88 per tonne on Tuesday June 3.
The index was down by €16.25 per tonne week on week and by €42.50 per tonne month on month.
In Italy, meanwhile, Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy was calculated at €593.13 per tonne on Wednesday, down by €3.54 per tonne from €596.67 per tonne on the previous day.
The Italian index was down by €6.87 per tonne week on week and by €30.00 per tonne month on month.
Offers from domestic mills were heard at €590-600 per tonne ex-works on Wednesday.
Estimates of tradable values were heard at €580-600 per tonne ex-works.
In the secondary market, 4 mm HR sheet was traded at €660-580 per tonne CPT.
Sources reported softer import offers in the week to Wednesday.
Notably, suppliers from Indonesia reduced offers to €490-500 per tonne CFR to Italy, compared with €520 per tonne CFR at the end of May.
Despite attractive prices, no fresh deals for Indonesian coil was heard so far.
“Italian buyers just received tonnages from Indonesia ordered earlier and [are testing] the quality,” a buyer in Southern Europe said.
Lower offers were also heard from India — around €535-540 per tonne CFR to Italy, compared with €550-560 per tonne CFR in end-May.
Turkey-origin coil was offered at an average price of €530-545 per tonne CFR duty paid to Italy.
Published by: Julia Bolotova
