Business activity has been diminishing in the European HRC market, taking into account the approaching holiday period and reluctant buyers. The domestic suppliers are still searching to conclude some deals though restocking remains weak on the buyers’ side.
The domestic HRC prices in southern part of the EU are at €590/mt ex-work for January-February deliveries, although the tradable level has remained at €560-580/mt ex-works with a few transactions reported at €550/mt ex-works. However, the level is reportedly not available anymore, at least not for any sizeable volume. “Although mills are aiming for €590/mt ex-works, they will still be happy to sell at €570-580/mt ex-works levels, but the problem is that no one wants to buy as demand is weak,” a market source told SteelOrbis.
In the northern part of the EU, the mills are officially offering at €580-600/mt ex-works for deliveries within the first quarter of the year, while tradable levels have remained at €560-570/mt ex-works.
In the import segment, HRC from South Korea is offered at €580/mt CFR, while Taiwan is offering at €590/mt CFR, but negotiable. Turkish HRC is officially at €590/mt CFR duty paid, while the last deals were done at €560/mt CFR as SteelOrbis reported earlier. “Asian offers were slightly up this week due to the relatively positive situation in China, mainly based on expectations. In addition, there seems to be fewer and fewer serious buyers, so no need to go lower than previously,” a trader told SteelOrbis.