.gif)
Loading
Hot-rolled coil (HRC) prices in Europe are expected to rise gradually, as buyers expect to start sourcing soon. ArcelorMittal has increased coil bids by 20 euros/mt across Europe. HRC’s new bids in Germany reached 840 euros/mt ex-Ruhr plant and in Italy 820 euros/mt delivered.
The positive market mood was supported by a combination of good orders from steel mills, a lack of competitive import offers, and an expected increase in demand. Most European steel mills have already offered HRC for May shipments. According to some sources, the planned restart of some idle furnaces in March-April will not have an immediate impact on supply and prices.
Import offers have been available only for material from Asia with July-August delivery, causing more buyers to turn to European mills. Turkey does not and will not export for quite some time after the earthquake. So buyers will focus on domestic purchases and book limited volumes from abroad.
End-user demand has remained stable and is unlikely to increase significantly in the current economic conditions. Distributors, however, have lower inventories of flat steel products and are expected to return to the market soon in search of orders.
HRC Northwest Europe Hot Rolled Coils prices stood at 800 euros/mt on March 1, up 1 percent from the previous day. The number of import offers has been limited, but Asian exporters are expected to return to the EU market next week with higher offers.
International Steel Flat Product euro/ton
Hot Rolled Coils HRC – North Europe euro/ton
