European domestic prices for steel hot-rolled coil (HRC) were largely stable on Monday January 19 with trading activity remaining muted.
Mills continued to seek higher prices for material with delivery from March onward amid the uncertainty in the import sector caused by the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM).
Suppliers in Northern Europe were offering March-delivery coil at €650-670 per tonne ex-works with some business said to be done at €630-645 per tonne ex-works.
Meanwhile, material for April delivery was offered at €670 per tonne ex-works and higher, but these prices have so far failed to gain traction with customers.
A seller from the Benelux region reported sales of April-delivery cargoes at €640 per tonne ex-works.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Northern Europe, was €640.63 per tonne ($745.67) per tonne on January 19, up by €0.13 per tonne from €640.50 per tonne on January 16.
The index was also up by €5.00 per tonne week on week and by €16.88 per tonne month on month.
Italian producers were also hoping for higher prices with offers of March delivery coil within the range of €640-650 per tonne ex-works.
Workable prices so far have not exceeded €635 per tonne ex-works, according to market sources.
Service centres were said to have sufficient stocks built from domestic and import bookings made previously, with demand currently coming mainly from pipe makers.
Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €631.67 per tonne on Monday, up by just €0.42 per tonne day on day.
The index was also up by €4.17 per tonne week on week and by €17.92 per tonne month on month.
