In Northern Europe, one buyer reported a transaction at €675 ($773) per tonne ex-works, lower than indications at €685 per tonne ex-works and offers at €700 per tonne ex-works, reported by a second buyer.
“Activity is basically zero, because nobody knows what will happen after July 1,” a third buyer said, referring to the start date of the EU’s new safeguard measures.
The same source added that demand was poor and buyers were sufficiently stocked up. “The market is calm and some people are even saying it’s dead,” the third buyer said.
Due to lack of input, price points heard on June 18 were continued to June 19’s index. A seller reported an indication at €685 per tonne ex-works on Thursday.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at €686.25 ($786) per tonne on June 19, down by €0.25 per tonne from €686.50 per tonne on June 18.
The index was up by €1.04 per tonne week on week and by €4.25 per tonne month on month.
In Italy, offers were reported in the wide range of €660-690 per tonne ex-works, but market sources could not indicate workable prices due to limited trading.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €682.50 per tonne on Friday, up by €7.50 per tonne from €675.00 per tonne on Thursday.
The index was down by €5.00 per tonne week on week but up by €3.12 per tonne month on month.
Buying interest for imported HRC was limited, sources told Fastmarkets on June 17, when the most recent offers to Italy were reported at €595-610 per tonne CFR from Turkey and India, and at €680-700 per tonne DDP from the same origin.
Material from Southeast Asia was offered at €680-700 per tonne DDP, while Algerian HRC was heard offered at €700-710 per tonne DDP to Italy and Spain. The highest offer was at €740 per tonne DDP from Japan.
Davide Montagner in London contributed to this article.
