As a result, offers provided earlier this week within the range of €680-700 ($776-799) per tonne ex-works found no support from buyers, who assessed workable prices varying mainly in the range of €650-660 per tonne ex-works.
As a result, Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at €654.74 per tonne on Tuesday, down by €1.26 per tonne from €656 per tonne on Monday.
Import HRC offers from Indonesia were reported at €600 per tonne DDP and slightly higher, but were left without customers’ interest either, according to market sources.
In Italy, HRC offers varied within the range of €620-640 per tonne ex-works, while workable levels were estimated in the range of $620-630 per tonne ex-works. Nevertheless, no major deals were heard done during the day.
“The market is in wait and see mode. All of my customers are on vacation or waiting for the Made in Steel event [to be held in Milan on May 6-8],” a trader said.
Thus, Fastmarkets’ daily steel hot-rolled coil index, domestic, exw Italy was calculated at €627.50 per tonne on Tuesday, stable day on day.
Sources also reported Indonesian HRC being available at €530-535 per tonne CFR Italy. Turkish material was offered at €560 per tonne DDP, while Indian HRC offers were heard at €580 per tonne CFR.
Published by: Vlada Novokreshchenova
