Northern Europe:
Steel hot-rolled coil (HRC) prices in Northern Europe remained stable to slightly weaker on Tuesday, May 28, with mills reluctant to offer discounts despite short order books, according to sources.Offers for July-delivery HRC in Northern Europe were heard at €640-660 ($695-716) per tonne ex-works.
However, several suppliers could offer prompt delivery for the end of June, indicating weak order books.Bids and buyers' estimations of achievable prices were heard at €620-640 per tonne ex-works. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at €636.50 ($690.83) per tonne on Tuesday, down by €0.87 per tonne from the previous calculation at €637.37 per tonne on May 24.Import offers were reported at €620 per tonne CFR Antwerp from Egypt and Turkey, including the anti-dumping duty.
Italy:
In Italy, the spot market was also quiet, and buyers' stocks were reported to be "high compared to acute trading activity level," according to a steel-service center source. A local steelmaker was maintaining its offers at €670 per tonne delivered (€660 per tonne ex-works), but transaction prices were still lagging behind offers, with tradeable values heard at €640-650 per tonne delivered (€630-640 per tonne ex-works) for July-delivery HRC. Bids were reported at €620-630 per tonne ex-works.
Fastmarkets' corresponding daily steel hot-rolled coil index, domestic, exw Italy, was calculated at €630.00 per tonne on Tuesday, unchanged since May 24.
Import offers for Asia-origin HRC with mainly August shipment were reported at €600-620 per tonne CFR, with some sources reporting lower values — €580-590 per tonne CFR — for Vietnam-origin HRC. From Turkey, July-shipment HRC was offered to Italy around €600-610 per tonne CFR, including the anti-dumping duty.
