Domestic prices for hot rolled coil (HRC) in Northern Europe have gone unchanged over the past week, sources have told Metal Bulletin.
Metal Bulletin’s weekly price assessment for domestic HRC in Northern Europe was static at €۴۹۰-۵۱۰ ($۵۵۶-۵۷۹) per tonne ex-works on Wednesday July 5. The assessment reflected the latest deals reported for the material.
Market participants believed that domestic HRC prices in the region have reached “bottom”. As a result, rumours have been circulating in the market that ArcelorMittal would announce a price rise for coil
early in this current quarter.
The steelmaker, however, declined to comment on the possibility of an offer increase, although it did note that the “general market context is improving fast”.
The possible price increase is supported by a degree of recovery in the international market for flat steel products, higher raw material prices, and the positive effects of an upcoming decision in the EU’s anti-dumping case into HRC from fve countries, market sources said.
“ArcelorMittal is likely to announce the price increase by the end of this week, which is their regular strategy at the beginning of each quarter,” a trader said. “Higher offers from ArcelorMittal would be good news for us,” a representative of a European mill said, “but I have not heard any higher offers yet.”
The European Commission (EC) is expected to announce definitive duties on imports of HRC from Russia, Ukraine, Brazil, Iran and Serbia a couple of months before the deadline date of October 6 this year, according to market sources. The EC decided not to impose preliminary duties on material from the fve countries in April.
The weekly price assessment for domestic cold rolled coil (CRC) in Northern Europe dropped to €۵۹۰-۶۱۰ ($۶۷۰-۶۹۳) per tonne ex-works this week, from €۵۹۵-۶۲۰ ($۶۷۶-۷۰۴) per tonne ex-works a week earlier.
Metal Bulletin’s weekly price assessment for domestic hot dipped galvanized coil (HDG) was €۶۴۰-۶۶۰ ($۷۲۷-۷۴۹) per tonne ex-works on July 5. This compared with €۶۴۰-۶۸۰ ($۷۲۷-۷۷۲) per tonne ex-works a week earlier.
Import prices Metal Bulletin’s weekly price assessment for imported HRC in Northern Europe was €۴۴۰-۴۵۰ ($۵۰۰-۵۱۱) per tonne cfr main ports on July 5. This compared with €۴۴۰-۴۵۵ ($۵۰۰-۵۱۷) per tonne ex-works last week.
The assessment reflected offers heard for the material from India. The assessment for imported CRC in the region was €۵۱۰-۵۲۰ ($۵۷۹-۵۹۱) per tonne cfr main ports this week, compared with €۵۱۰-۵۳۰ ($۵۷۹-۶۰۲) per tonne cfr main ports a week earlier.
Suppliers from Vietnam, South Korea and Brazil have been offering CRC to the region at prices within the assessment range.
Source: Metal bulletin
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