Local HRC prices weaken further in EU domestic, competitive sources surface

Tuesday, 13 July 2021 16:40:30 (GMT+3)   |   Brescia
       

Prices have slipped further in the EU domestic HRC market in the past week, although the situation has not changed dramatically, according to sources. The range of transaction prices has widened to €1,080-1,170/mt ex-works, with achievable prices between €1,080-1,150/mt in the Italian market and prices mostly in the €1,130-1,170/mt range in northern Europe, all ex-works.

According to sources, one Italian steel producer is offering HRC at €1,080-1,100/mt ex-works. Although prices have decreased by €15/mt on average in the past week, most sources do not believe this is indicative of a downward trend. In fact, while buyers have reduced their purchases due to sufficient stocks, high prices, credit limits, long lead times and also due to the seasonal slowdown in demand, mills are still boasting good order books, and supply remains tight.

Meanwhile, some competitive offers have surfaced, particularly to southern Europe. As reported previously, Indian suppliers have exhausted their third quarter quota, and so any extra volumes arriving in the July-September period will be subject to a 25 percent duty. Even so, offers may continue to be competitive. Currently, ex-India offers can be "much lower" than €1,000/mt CFR southern Europe, sources told SteelOrbis. However, as reported previously, it is rumored that the EU is preparing to launch an antidumping investigation against imported HRC of Indian origin.

Meanwhile, ex-Japan offers are at €1,020/mt CFR with shipment in September. Turkish suppliers are offering material at prices as low as €960/mt CFR Italy, antidumping duties included. Finally, Russia-based Severstal has decreased its price for southern Europe from $1,100/mt to $1,040/mt FOB.


Similar articles

Sentiment in ex-China HRC market worsens, local and export prices soften

16 Aug | Flats and Slab

India HRC exporters nudge up prices, buying remains subdued

16 Aug | Flats and Slab

Formosa cuts HRC prices by $45/mt in Vietnam, but buyers count on discounts

15 Aug | Flats and Slab

Local Indian HRC trade prices soften, pace of fall checked by supply tightening

15 Aug | Flats and Slab

Slab suppliers attempt price rises in Asia, but demand not supportive

15 Aug | Flats and Slab

NBS: Local Chinese rebar prices up 4.7 percent in early August

15 Aug | Steel News

Are US sheet steel prices nearing the bottom?

12 Aug | Flats and Slab

Global View on HRC: Cautious optimism on prices in most regions except Europe, trade yet to increase

12 Aug | Flats and Slab

No official HRC offers from Formosa for October deliveries, customers bearish

12 Aug | Flats and Slab

HRC prices down in EU market amid drops in northern Europe, unclear expectations for Sept

12 Aug | Flats and Slab