Domestic hot-rolled coil (HRC) prices in Northern Europe (EU) have been unchanged over the past week, while prices in the south declined by €5 per tonne over the period, Fastmarkets said on October 23.
In September, HRC price in EU market slowed down as https://mrssteel.com.vn/hrc-price-in-europe-market-continues-to-slow-down/. Although the prices at the present have not changed significantly, the market remains under downward pressure from poor demand.
In particular, Northern Europe Domestic prices for HRC have been stable over the week, despite the remaining pressure from poor demand and shortening lead times, which indicates there are insufficient deals in the order books of the region’s steelmakers, market sources said. Fastmarkets’ weekly price assessment for steel HRC, domestic, EXW Northern Europe, was stable over the week at €425-430 ($473-479) per tonne on October 23. A few deals for the material have been heard at €425-430 per tonne EXW, while official offers have been reported at €430 per tonne EXW. In the meantime, some trading sources believe that prices have not reached the bottom just yet and said that mills will accept a further reduction to €415-420 per tonne ex-works. This range, however, was not included in Fastmarkets’ price assessment because it has not yet been backed up by deals.
Futhermore, prices for hollow steel sections in Northern and Southern Europe were unchanged this week despite pressure from imports and recent feedstock costs, market sources told Fastmarkets on Wednesday October 23. Fastmarkets’ weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was €560-580 ($623-646) per tonne on Wednesday, unchanged week on week. Costs for the feedstock material of hot-rolled coil have fallen continuously in recent weeks, putting pressure on to a weak domestic hollow sections market.
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