In a recent article, metalbulletin reports on the current continued rise in hot-rolled coil prices in Europe. This continues the trend seen in recent weeks.
Prices for HRC continue to rise across Europe
Transaction prices for domestic hot-rolled coil continued to rise across Europe in the week to Friday, December 18, driven by limited supply from both domestic and foreign suppliers.
Price per ton increased by over 112 euros
Fastmarkets calculated its daily index for hot-rolled coils, domestic, exw Northern Europe at €650 ($796.90) per ton on Friday, Dec. 18, up €43.75 per ton from the previous week and up €112.08 per ton from the previous month.
The assessment was based on market participants’ estimates of achievable prices at €640-660 per ton ex-factory.
In Southern Europe, prices per ton ex-works at over €600
Fastmarkets’ weekly price assessment for hot-rolled steel strip, domestic, exw Southern Europe was €600-640 ($731.88-780.67) per ton on Wednesday, December 16, up €20-50 per ton from €580-590 per ton on December 9.
In southern Europe, Italian producers targeted ex-factory prices of €640-650 per ton, but buyers estimated “workable” ex-factory prices of €600-630 per ton. However, late last week, buyers estimated achievable prices at €650-670 per ton ex-works.
700 euros per ton HRC expected
On Thursday, December 17, ArcelorMittal raised its second-quarter rolled HRC offers across Europe to €700 per ton ex-works, and market sources expect other steelmakers to do the same. A northern European producer was already offering HRC for €680 per ton ex-works last week and said it planned to raise bids by €20 per ton soon.
Producers in Europe sold out until May 2021
Producers across Europe are sold out until April-May 2021. And available volumes for the second quarter are limited, sources said. This, combined with a low volume of import offers and high prices for overseas coils, has created a shortage of coil products in the market.
Source: metalbulletin.com
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