Ex-India hot dip galvanized (HDG) coil prices have improved slightly with sellers able to push through higher-volume deals in Europe, SteelOrbis learned from trade and industry circles on Thursday, November 30.
Sources said that, while ex-India HDG offers have increased $5/mt to the range of $815-845/mt FOB, total aggregate bookings to Europe over the past week have been estimated at around 40,000 mt and most of the trade successful at the highest end of the price range.
Among them was a deal for 12,000 mt concluded by an eastern India-based integrated mill for delivery to Rotterdam at $840-845/mt FOB, while a Gujarat-based mill in the west reported a booking from Italy for 15,000 mt at $840/mt FOB sources said.
“Improved volumes in Europe are from restocking by distributors rather than a pick-up in end-use demand. Of course, we are seeking some rise in mill prices in the EU region and distributors are showing more interest in imports to stay ahead of the curve,” a source at Tata Steel Limited told SteelOrbis.
Meanwhile, more deals for ex-India CRC have also been reported in Europe at €720/mt CFR, up by €10/mt over the past week, which translates to around $735/mt FOB.
“There are positive indications for Indian sellers. But for both volumes and prices to consolidate in tandem, sellers will need to wait for new tariff quotas to take effect in the New Year,” another source said.
