EU HRC import prices fall to new low

Posted on 08 August 2019

Source: Kallanish

The Kallanish index for import prices of HRC into South Europe fell this week to a new six-month low as the market fell silent due to the summer break and Turkish export offers moved down again.

After a period of stability in July, this week the assessment was €462.5/tonne ($517.3/t) down €5/t from previously. This is the lowest level registered since the beginning of June this year and almost €80/t below the figure published in early August 2018.

Global pressures on prices are continuing to affect the European market. A further recovery in US flat prices and the possible tension continuing regarding the supply from ArcelorMittal Italia however could well support a price upturn in Europe following the summer break.

Offered prices for imported HRC are not considered as competitive in the current market.

In July some 30% of the available second-quarter import quotas for HRC into Europe were consumed, but these included large volumes awaiting at the ports to be cleared. At the time of writing, more than 1.5 million tonnes of HRC can still be imported up to the end of September. 

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