The continuing uncertainty connected with the EU’s Carbon Border Adjustment Mechanism (CBAM) and related extra costs, as well as approaching implementation of new tighter safeguard measures on July 1, were some of the key factors weighing on trading activity in the region.
In such conditions, offers were limited.
In Northern Europe, offers of Indian material were reported at $660-670 per tonne CFR, which would be equivalent to €560-570 per tonne CFR.
Turkish material was heard available at €650 ($762) per tonne CFR including anti-dumping duty, which would be equivalent to around €610 per tonne CFR excluding the duty. This price was nevertheless said to be unworkable by the customer.
In such conditions, Fastmarkets’ weekly price assessment for steel hot-rolled coil, import, cfr main port Northern Europe, was €560-600 per tonne on May 13, down from €600-630 per tonne the previous week.
Due to the lack of inputs, Fastmarkets’ weekly price assessment for steel hot-rolled coil, import, cfr main port Southern Europe, was calculated at €550-615 per tonne on May 13, down from €590-645 per tonne.
After the assessment was filed, however, a source reported at Indian offer at $700-720 per tonne CFR, which would be equivalent to €597-614 per tonne CFR, as well as Algerian offers within the range of $735-760 per tonne CFR.
Several sources reported an Indonesia-origin cargo being sold to Italy at €660 per tonne DDP during the week.
Offers from Turkey were heard at €700-720 per tonne DDP to Italy.
And in Spain, offers from different suppliers were heard within the range of €690-750 per tonne DDP.
As a result, Fastmarkets weekly price assessment for steel hot-rolled coil, import, ddp Southern Europe, was €660-700 per tonne on May 13, versus €650-725 per tonne on May 6.
Also due to the lack of inputs, Fastmarkets’ weekly price assessment for steel hot-rolled coil, import, ddp Northern Europe, was €660-695 per tonne on May 13, versus €650-720 per tonne on May 6.
