Market sources expected that domestic prices for hot-rolled coil (HRC) in Europe will continue to decline due to persisting poor demand and mounting pressure from reductions in import offer prices, sources told Fastmarkets on Wednesday September 18.
Suppliers from Turkey and India have been active in the European market to compensate for the lack of buyer activity in their other traditional markets.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Southern Europe, was €415-430 ($458-474) per tonne on September 18, down from €430-445 per tonne cfr a week earlier.
Offers of the material from Turkey and India have been heard at €420-430 per tonne cfr Italian ports, while bids have been heard at €410-415 per tonne cfr.
A few deals have been heard at €420 per tonne cfr with buyers in Italy.
In the meantime, the same suppliers have been offering HRC to Spain at €430-445 per tonne cfr.
Fastmarkets’ weekly price assessment for steel HRC, import, cfr main port Northern Europe, was €425-435 per tonne on Wednesday, down from €430-450 per…