Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe
, at €716.00 ($864.56) per tonne on Friday, up by €48.50 per tonne week on week and by €79.75 per tonne month on month.
The calculation of the index was based on achievable prices heard at €700-730 per tonne ex-works, offers heard at €730 per tonne ex-works and a deal reported at €720 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel HRC, domestic, exw Southern Europe
, was €660-700 per tonne ex-works on January 13, up by €20-40 per tonne week on week from €640-660 per tonne.
By the end of the week, Italian buyers had made a few deals at €700 per tonne ex-works with local mills, but producers were likely to increase their official offers this week, sources said.
In Northern Europe, buyers also expected further increases in offer prices because transaction prices have been approaching ArcelorMittal’s official offer level of €730 per tonne ex-works.
The price rises were being driven by a combination of low availability of HRC in the market, reflecting good order books at European mills, and the lack of competitive import offers.
Northern European mills have been offering HRC for May-June shipment, with one mill already claiming to be sold out of second-quarter production, sources told Fastmarkets.
In Southern Europe, meanwhile, Italian producers have been offering second-quarter rolling production. Volumes, however, were limited due to lower output by mills, a focus on sales of non-commodity-grade products by one producer and the total absence of another.
Import offers have been limited and offers have been uncompetitive compared with domestic prices. In addition, lead times for overseas coil have been similar or only slightly longer than those of domestic EU suppliers.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Southern Europe
, was €670-705 per tonne on January 13, up by €10-40 per tonne week on week from €660-665 per tonne ex-works a week earlier.
By the end of the week, import prices had risen further. Some deals for Indian HRC were done earlier at €690-695 per tonne cfr with an Italian buyer, but the price has since increased, according to sources.
Offers of HRC from Japan were heard at €705 per tonne cfr in Southern Europe.
And Turkish mills have been offering material at €720-730 per tonne cfr, a price which includes the EU’s preliminary anti-dumping duties.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Northern Europe
, was €680-700 per tonne on January 13, up by €25-30 per tonne week on week from €655-670 per tonne.
Offers of HRC from India to Northern Europe have been heard at €680-700 per tonne cfr Antwerp.