Despite the upward movement of the European flat steel markets caused by ArcelorMittal’s announcement of a $30/mt price hike last week, European market players are observed to be maintaining a cautious stance towards hot rolled coil (HRC) prices. As a result of the ongoing weakness of HRC demand, HRC prices are under significant pressure. Market sources state that European welded pipe producers are cautious as regards raw material purchases, while welded pipe prices in the Europe have remained stable week on week since no deal for large tonnages has been concluded over the past week. It is observed that the current week is not as lively as expected in terms of purchases. Meanwhile, European welded pipe prices are expected to move in line with HRC quotations in March if no significant recovery in demand is seen.
A Bulgarian steel producer’s offers for ERW pipes as per EN 10219 for its domestic market have remained stable week on week at €570-580/mt ($650-661/mt) ex-works. The Bulgarian welded pipe producer’s European market quotations to Germany are at €600-610/meter ($684-695/meter) CPT, to Hungary are at €575-580/meter ($656-661/meter) CPT, to Austria are at €585-590/meter ($667-673/meter) CPT, and to Belgium and the Netherlands are at €615-620/meter ($701-707/meter) CPT, while its offers to the Czech Republic, Poland, Croatia and Slovakia are standing at €610-620/mt ($695-707/mt) CPT, and its offers to Slovenia are at €615-620/mt ($701-707/mt) CPT.
€1 = $1.14