SteelOrbis has learned that ex-Brazil offers for import cold rolled coil (CRC) to Southern EU destinations such as Italy and Spain are at EUR 590-595/mt ($708-714/mt) CFR.
According to sources, the updated price range has increased $65-70/mt from the previous CFR range heard in late August. The increase on offers was made as buyers are expected to be active in the market after the EU summer slowdown and due to higher raw material prices. Additionally, a source noted that updated CFR offers correlate with those heard from Indian and Asian suppliers.
EUR = $1.20 (Sept 7)