European hot rolled steel prices continue to fall

European hot rolled steel prices continue to fall

On February 21, the hot rolled coil ex-factory price index in the Nordic region was 723.13 euros ($781)/ton, a week-on-week decrease of 22.87 euros/ton.

According to European market news, the European hot rolled coil market was generally relatively quiet in the first half of this week (February 19-21). As buyers mostly continued to be bearish on prices, there was a strong wait-and-see sentiment. In the first half of the week, the mainstream ex-factory price of hot rolled coils for the April delivery period of Nordic steel mills was 740-760 euros/ton, but the buyer's bid was only 670-700 euros/ton. Some market participants evaluated the current more feasible ex-factory transaction price of 700-730 euros. Euro/ton. A steel mill in the region predicts that the ex-factory price of hot rolled coils is likely to fall to 700 euros/ton in the next few weeks, but it is unlikely to go further.

In Southern Europe, the Italian hot rolled coil ex-factory price index on February 21 was 721.94 euros (779.7 US dollars)/ton, a week-on-week decrease of 13.69 euros/ton. The actual transactions in the Italian hot rolled coil market were also light in the first half of the week, with a small number of hot rolled coil ex-factory transactions priced at 720-725 euros/ton. Some market participants expect the Italian hot rolled coil ex-factory price to fall to around 700 euros/ton in the short term. In the first half of the week, the price of Italian hot rolled coils with delivery date in April to Germany was 740-750 euros/ton, and the bargaining range of German buyers was 20-30 euros/ton.

In terms of imported resources, in the first half of the week, the mainstream export quotations of hot rolled coils from overseas suppliers to Europe for the April shipping date: Vietnamese hot  rolled coils 620 euros/ton (CFR); Japanese and Egyptian hot rolled coils 640-650 euros/ton (CFR); Turkish hot rolled coils are 670-680 euros/ton (CFR, Italy), including anti-dumping duties.

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