Prices for domestic steel hot-rolled coil (HRC) decreased slightly amid slow market activity in Northern Europe, while prices in Italy increased on the latest offers, sources told Fastmarkets on Wednesday June 10.
In Northern Europe, a buyer source reported an indication at €680 ($786) per tonne ex-works and an offer at €750 per tonne ex-works for August-September delivery on Wednesday.
The offer was given zero tonnage due to its delivery time exceeding the six-week window determined by Fastmarkets’ methodology.
A second buyer source reported an indication for achievable levels at €670-685 per tonne ex-works, an offer at €700-705 per tonne ex-works and higher offers at €720-750 per tonne ex-works for July orders. The higher offers were given zero tonnage due to a lack of buying interest at that level.
Sources said consumption was “not good,” while weak demand continued to weigh on market sentiment.
Fastmarkets’ daily steel hot-rolled coil index domestic, exw Northern Europe was calculated at €686.67 ($792.95) per tonne on June 10, down by €1.83 per tonne from €688.50 per tonne on June 9.
The index was down by €3.33 per tonne week on week and down by €2.91 per tonne month on month.
In Italy, HRC offers were heard at €680-695 per tonne ex-works, while indications ranged €665-685 per tonne ex-works on Wednesday.
One mill source also reported a lower indication at €670 per tonne delivered (€655 per tonne ex-works), but other sources said it was probably linked to stock material, with one source saying that this level was “impossible for primary production.”
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy was calculated at €685.00 per tonne on Tuesday, up by €3.12 per tonne from €681.88 per tonne on Monday.
The index was up by €12.25 per tonne week on week but down by €1.35 per tonne month on month.
