It is reported that the price hikes are continuing in the southern Europe flats market, and particularly in Italy. HRC prices in the Italian domestic market have surged to €820/mt ex-works; however, no sales have yet been concluded at the price level in question.
On the other hand, HDG and CRC prices in the Italian domestic market are currently hovering at €840-850/mt ex-works.
As regards the Spanish domestic market, it is calmer than its Italian counterpart. In the local Spanish market, base prices for HRC are at €720-740/mt, and they are expected to improve in the coming days.
SteelOrbis has been informed that Egyptian steelmaker EFS's HRC offers for European countries are standing at the level of €800/mt CIF FO Europe for 90-day shipment.
Meanwhile, ex-China flats offers for the same destination are at the following levels:
Origin | Product | Price | Shipment |
HRC (0.6-3.0 mm) | €780/mt CIF FO Europe | - | |
€745/mt CIF FO Ravenna | August | ||
€795/mt CIF FO Ravenna | August | ||
€840/mt CIF FO Ravenna | August |
On the other hand, ex-Algerian-based ArcelorMittal Annaba's HRC offers to Europe are currently at the level of €840/mt CIF FO Europe for July shipment.
Meanwhile, ex-China offers of HRC for Italy are at €745/mt, those of CRC stand at €795/mt, while those of plates are at €840/mt and above, all on CFR FO Ravenna basis and for August shipments.
In addition, it is also heard that Chinese traders with previously taken positions are offering HRC in a range of €710-730/mt CFR Europe.
Demand in the southern European flats market is reported to be registering normal levels. Meanwhile, a few bookings ex-China have been called off due to the devastating earthquake which hit that country's Sichuan region on May 12.