European Hot Rolled Steel Coil Prices Continue To Fall

On April 26, the ex-factory price index of hot rolled steel coil in the Nordic region was 837.50 euros ($921.3) / ton, down 5 euros / ton week-on-week.

According to Nordic market news, this week’s Nordic hot rolled steel coil market overall continued to be light, steel mills rarely released quotations, to digest the current handheld orders, most of the region’s May-June delivery time of hot rolled steel coil orders are full, a buyer said that one of the steel mills has not released hot rolled steel coil quotations for three and a half weeks. Due to the high price and long delivery time, the current buyers’ willingness to purchase is also very low, mainly wait-and-see. Some market participants have assessed that the current more feasible hot rolled steel coil in the Nordic region has been traded at an ex-factory price of 820-850 euros / ton. A steel service center expects the ex-factory price range of hot rolled steel coil in the Nordic region in May to be 820-830 euros/ton; Another distributor said that it currently has sufficient stocks of hot rolled steel coil and expects that there is little chance of a significant replenishment by buyers in May, but a significant price decline is also unlikely due to the overall tight supply at the steel mill end.

In Southern Europe, the Italian hot rolled steel coil ex-factory price index was 830 euros ($913) / mt on April 26, down 11 euros / ton week-on-week. This week, the mainstream ex-factory quotation of hot rolled steel coil in Italian steel mills was 820-850 euros / ton, but the actual transaction was not much. Some buyers assessed that the current Italian market is more feasible hot rolled steel coil at an ex-factory price of 820-840 euros/mt.

In terms of imported hot rolled steel coil, this week’s mainstream export quotation of India’s June shipping schedule to Italy is $770/ton (CFR); A Vietnamese steel mill to Italy hot rolled steel coil export price of 670 euros/tonne, this week a Belgian buyer purchased a batch of June shipping schedule of Japanese hot rolled steel coil at a transaction price of $810/ton (CFR). On April 26, the assessment prices of hot rolled steel coil imports in Northern and Southern Europe were 700-740 euros/ton (CFR) and 670-730 euros/ton (CFR) respectively.