European import prices for steel hot-rolled coil increased in the week to Wednesday March 25 amid limited availability and surging freight costs.
The escalation of the conflict between the US, Israel and Iran has affected import routes, especially from Asia, increasing freight costs. Meanwhile, the EU’s Carbon Border Adjustment Mechanism (CBAM) remains a key factor pressuring import volumes, Fastmarkets understands.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, import, cfr main port Northern Europe was €608-685 ($704-794) per tonne on Wednesday, rising from €570-575 per tonne the previous week.
Offers from Turkey, including duties, were heard at €685 per tonne CFR, while other offers from Asian origins were reported within the range of €608-630 per tonne CFR.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, import, cfr main port Southern Europe was €640-690 per tonne, rising from €570-640 per tonne the previous week.
Offers from Turkey were heard at €640-655 per tonne CFR and offers from Algeria to Spain for June delivery were heard at €690-710 per tonne CFR.
The DDP assessments for HRC imported to Northern and Southern Europe also increased in the week to Wednesday.
Offers for imported HRC to Southern Europe, including CBAM-related costs, were reported at €740-775 per tonne DDP. Estimates were also heard at €720 per tonne DDP.
Fastmarkets’ weekly price assessment for steel hot-rolled coil, import, ddp Southern Europe was €720-740 per tonne, up from €640-670 per tonne the previous week.
The corresponding price assessment for steel hot-rolled coil, import, ddp Northern Europe was €720-740 per tonne, up from €650-670 per tonne in the previous assessment period.
The updated assessment is in line with estimates of workable levels also heard at €720-740 per tonne DDP.
