Prices for steel hot-rolled coil (HRC) in the domestic market of Northern Europe and Italy remained broadly stable on Wednesday August 12, with limited trading reported during the traditional summer slowdown period, sources told Fastmarkets.
In Italy, sources said prices were stable, as most suppliers were out of the market in August.
“Moreover, at the moment we are out of the market, with the next availability from Italy, which is now an October or even November shipment depending on the product and specification,” a producer source said on Wednesday, adding that the activity in Italy was almost at zero, as usual for this period.
A buyer source indicated workable levels at €700-720 ($808-831) per tonne ex-works, in the same range as offers and indications reported on August 11, when mills were heard targeting €720 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Italy was calculated at €713.75 per tonne on August 12, unchanged day on day.
The index was up by €4.75 per tonne week on week and up by €20.69 per tonne month on month.
The latest HRC import activity into Southern Europe included a deal from Egypt at $750 per tonne CFR for a small-quantity order, while material was offered at $760 per tonne CFR from the same origin, all including $30 duties under the Carbon Border Adjustment Mechanism (CBAM).
A lower offer was reported at €600-620 per tonne CFR on Wednesday, but sources could not confirm the origin.
Fastmarkets’ weekly price assessment for steel hot rolled coil import, cfr main port Southern Europe was at €565-600 per tonne, unchanged week on week.
In Northern Europe, the market was very quiet on Wednesday, with many of the participants away on holiday. A buyer source reported an indication of workable levels at €715-720 per tonne ex-works on August 12, and prices collected on August 11 were carried over to the following day.
On Tuesday, a deal for October delivery was reported at €705-715 per tonne ex-works, which was included in the index, as September delivery material was no longer available, according to sources.
Indications of achievable levels were reported at €710-730 per tonne ex-works on the same day, while offers reached €715-730 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €717.00 per tonne on August 12, up by €0.12 per tonne from €716.88 per tonne on August 11.
The index was up by €0.33 per tonne week on week and up by €12 per tonne month on month.
–Vlada Novokreschenova in Dnipro contributed to this article.
