Meanwhile, mills were said to be looking for contracts to fill the order book for October production.
The official offers from mills from Northern Europe were within the range of €600-630 per tonne ex-works, whereas several trading sources mentioned on Tuesday that during negotiations asking prices slid to €590-610 per tonne ex-works.
Workable levels were estimated within the range of €570-580 per tonne ex-works, but no sales were heard during the day.
Fastmarkets’ calculation of the daily steel hot-rolled coil index, domestic, exw Northern Europe was €585 ($687.32) per tonne on Tuesday, up by €4.69 per tonne from €580.31 per tonne on Monday September 15.
The Northern European index was up by €7.08 per tonne week on week and by €15.83 per tonne month on month.
In the Italian market, hot-rolled coil offers were heard varying within the range of €570-600 per tonne ex-works, while workable levels were estimated within the range of €540-550 per tonne ex-works, with no transactions reported during the day.
Fastmarkets’ corresponding daily steel hot-rolled coil index domestic, exw Italy was calculated at €556.25 per tonne on Tuesday, up from €548.75 per tonne on Monday.
The Italian index was up by €6.87 per tonne week on week, but up by €18.75 per tonne month on month.
The import segment was also quiet, with buyers adopting a wait-and-see approach.
“Import is a mess, totally. CBAM (Carbon Border Adjustment Mechanism) is not clear yet, and people are more confused than ever. Therefore, import of any origin is out of question as it is a gamble,” one trader said.
HRC from Turkish suppliers was offered at €520-540 per tonne CFR, including the EU anti-dumping duty, for late November arrival.
Most recent offers of HRC from India to Italy were at €520-530 per tonne CFR for November shipment.
