European steel buyers continue to face a persistent shortage of steel products. Steel producers cannot keep up with demand. And Safeguard measures are preventing sufficient supplies from being obtained via imports from other countries.
We have compiled a few current news on the subject for you.
Lead times for European steel coils extend to Q3 2021
Hot-rolled coil prices in Europe rose slightly March 9 as longer lead times and the absence of imports prompted mills to raise flat steel costs, sources told S&P Global Platts.
“Lead times are the biggest problem. Capacity is not coming back. I think that will be a problem during the summer vacations,” said a source from a Benelux service center. “Prices will go up, stockholders will have nothing.”
Europe HRC: Domestic prices continue to rise; mills delay deliveries
A material shortage in the domestic European hot-rolled coil market, coupled with good demand, supported a slight price increase on Friday, March 12, sources told Fastmarkets.
Buyers also spoke of delayed deliveries, adding pressure to the distribution chain.
European HRC market struggles with tight supply
Hot-rolled coil prices in Europe rose March 10 as buy-side customers and traders grew increasingly dissatisfied with a chronic shortage of available steel, amid bullish predictions of even higher prices next week, sources told S&P Global Platts.
A German trader was still waiting for steel suppliers to respond with valid offers for Q3, when delivery cannot be expected until September/October at the earliest.
In the Italian market, an Italian trader noted a “new wave of panic” last week.
“No import offers, possible stop of Ilva mill, good demand, probable extensions of protection measures, long delivery times and big delays of several mills,” the trader said. “Service centers have low inventories and have had to raise prices.”
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