Domestic prices for steel hot-rolled coil increased further across Europe over the week to Friday April 16 due to a combination of strong demand and short availability.
In addition, at the end of last week, ArcelorMittal increased its official Europe HRC offers to €۹۷۰ ($۱,۱۶۲) per tonne ex-works, up by €۵۰ per tonne from its previous offers.
Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at €۹۲۶٫۲۵ per tonne on Friday April 16, up by €۲۹٫۵۸ per tonne week on week and by €۱۳۳٫۷۵ per tonne month on month.
Friday’s index was based on market estimates around €۹۱۰-۹۴۰ per tonne ex-works.
Tata Steel Europe, that operates flat steel plants in the Netherlands and the United Kingdom, has introduced carbon surcharges of €۱۲ per tonne on steel products manufactured in Europe to balance the rising cost of such emissions.
And Fastmarkets calculated its corresponding daily steel hot-rolled coil index, domestic, exw Italy at €۹۱۱٫۶۷ per tonne on April 16, up by €۲۳٫۳۴ per tonne week on week.
The calculation was based on achievable price estimates by market participants of €۹۰۰-۹۲۰ per tonne ex-works.
On April 14, ArcelorMittal completed an investment agreement with Invitalia, an Italian state-owned company, forming a public-private partnership between the two parties. The joint company AM InvestCo Italy will be renamed Acciaierie d’Italia Holding, and its main operating subsidiary, ArcelorMittal Italia, will be renamed Acciaierie d’Italia.
Sources said the continuing tight supplies has resulted in a further decrease in stock levels at both distributors and end consumers, and added that this would allow European mills to achieve €۹۷۰ per tonne ex-works in transactions by the end of the month. Some sources said offer prices could be increased to €۱,۰۰۰ per tonne next week.
Both domestic and overseas suppliers were reported to have come to the market with short-term offers for limited tonnages. As a result, buyers have not been able to secure the needed volumes.
Most market sources said that missing volumes posed a bigger problem for buyers than rising prices, so they were likely to pay the price mills offer to secure deals.
The nearest delivery times that Northern European and Italian steelmakers were able to offer were for late-third-quarter production, sources said.
Overseas alternatives have also been limited, market sources said. In addition, prices for imported Europe HRC have been also rising fast.
The latest offer from Russia was heard at €۹۵۰ per tonne fca Antwerp, including anti-dumping duties.
این مطلب بدون برچسب می باشد.