Posted on 18 Sep 2020
Import prices of hot rolled coil into southern Europe are continuing to consolidate upwards, confirming the overall positive trend of coil prices globally, Kallanish learns from sources.
In recent weeks offers from India have increased to the level of €490/t ($579) cfr southern Europe for HRC. A trader notes that Turkish sources could sell at €475-485/t cfr, but adds that the risk of anti-dumping measures being confirmed soon is putting off buyers.
Since June, prices of imported coils have recovered almost €100/t, further supporting the price increases passed down by European domestic suppliers.
Currently, most traders are waiting before placing new orders, after having ordered large volumes until August. Nevertheless, one large re-roller has been heard being active in the import market.
“Clearly, the market is recovering,” a trader notes. “I can confirm that service centres in the south of Europe are looking for volumes due to the difficulty of finding availability at domestic mills. In Italy, for example, one supplier has been forced to further reduce output during the summer and the shortage of material is tangible.”
Source:Kallanish
