The European import flat steel market was largely quiet in the week to Wednesday May 20, with the majority of buyers preferring to take a wait-and-see stance until the details of the new safeguard come to light, which is expected to happen in June.
Hot-rolled coil
Turkish material was reported available within the range of €590-600 ($684-696) per tonne CFR Italy, excluding anti-dumping duty, with information circulating about one cargo being sold at the upper end of the range.
Market sources also mulled an Algerian cargo being sold at $750-760 per tonne CFR, which is equivalent to €644-653 per tonne CFR, but this information could not be widely confirmed by the time of publication.
Additionally, sources reported new offers of Algerian coils coming at the equivalent of €670 per tonne CFR, which was considered too high by customers.
Indian coil was heard available at $685-705 per tonne CFR, which is equivalent to €590-605 per tonne CFR.
As a result, Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr main port Southern Europe was calculated at €590-605 per tonne on May 20, up from €550-615 per tonne on May 13.
On a DDP basis, offers of material from Asia and Turkey came within the range of €640-665 per tonne, which was reflected in Fastmarkets’ weekly price assessment for steel hot-rolled coil import, ddp Southern Europe on May 20.
In Northern Europe, offers of import HRC were not as numerous as in the south, with customers unwilling to take on risks related to the Carbon Border Adjustment Mechanism (CBAM) and the upcoming safeguard and preferring to cover their needs domestically.
Turkish material was heard available at €585-590 per tonne CFR, including anti-dumping duty.
Due to the lack of input about other origins, Fastmarkets’ weekly price assessment for steel hot-rolled coil import, cfr main port Northern Europe was moved to €590-600 per tonne on May 20, up from €560-600 per tonne on May 13.
On a DDP basis, offers varied within the range of €640-690 per tonne for origins including India, Vietnam, Indonesia and Turkey, which was reflected in the corresponding Fastmarkets’ assessment for steel hot-rolled coil import, ddp Northern Europe on May 20.
Cold-rolled coil
Cold-rolled coil offers were limited in the reported week as buyers showed little interest in foreign material.
Asian material was heard available at €780-800 per tonne DDP Italy, with indications of tradeable levels varying within the range of €750-780 per tonne DDP.
Fastmarkets’ weekly price assessment for steel cold-rolled coil import, ddp Southern Europe was €780-800 per tonne on May 20, narrowing from €750-825 per tonne on May 13.
Due to the lack of input, the corresponding Fastmarkets assessment for steel cold-rolled coil import, ddp Northern Europe was put in line with Southern Europe at €770-800 per tonne on May 20.
