While most EU market players are yet to come back from the Christmas and New Year holidays, the market players surveyed by SteelOrbis believe domestic hot rolled coil (HRC) prices will keep rising in the first quarter this year. In fact, they say material is still lacking both from local producers and from import sources. The price range in the EU market has remained stable during the holidays, i.e., between €660/mt and €690/mt ex-works. However, most mills are sold out for second quarter shipments and so they are asking for prices at or above €700/mt ex-works. As demand is good and global steel prices have hit their highest levels of the last two years. Market sources believe HRC transaction prices will only move in an upward direction in the coming period.
Meanwhile, import activities have remained subdued due to the lack of competitive offers. This situation is expected to persist after the imposition by the European Commission of a provisional antidumping duty against ex-Turkey HRC. The definitive results of the investigation are expected by mid-July this year.