European Hot Rolled Steel Coil Prices Fell Slightly

On April 12, the factory price index of hot rolled steel coil in the Nordic region was 855 euros / ton, down 4.38 euros / ton week-on-week.

According to Nordic market news, the Nordic hot rolled steel coil market this week is mainly light, suppliers release the latest quotations and buyers bid very little, most buyers believe that the current more feasible hot rolled steel coil factory transaction price of 830-860 euros / ton. At present, steel mills are generally more abundant in hand, so they still try to keep hot rolled steel coil quotations at a high level, some steel mills said before Easter that the July delivery date of hot rolled steel coil factory target price at 900 euros / ton, the recent fire in ArcelorMittal’s French and Spanish steel mills also encouraged these steel mills to raise prices, but some market participants said that from the current actual demand situation, it is unlikely to achieve a factory price of 900 euros / ton. At present, the hot rolled steel coil inventory of the steel service center and dealers in the Nordic region is higher overall, and the possibility of replenishment in the short term is not large, some analysts said that in the next few weeks in the secondary market steel service center and dealers are more likely to reduce the price of sales, these merchants are more optimistic about the future market price, want to ship as soon as possible to reduce inventory to lock in profits.

In Southern Europe, the Italian hot rolled steel coil ex-factory price index was 850 euros/mt on April 12, down 1.88 euros/mt week-on-week. This week, the mainstream ex-factory quotation of hot rolled steel coil in July of Italian comprehensive steel mills is 850-860 euros / ton, and the mainstream factory quotation of hot rolled steel coil in some rolling mills that need to purchase slabs in June and July is 850-860 euros / ton, and sources revealed that the current ex-factory price of steel mills for a large number of hot rolled steel coil orders can be discounted to 840 euros / ton, and some pipe manufacturers bid 820-830 euros / ton for hot rolled steel coil, but steel mills do not accept.

In terms of imported hot rolled steel coil, the mainstream export quotation of India’s June hot rolled steel coil to Italy this week was 715-725 euros / ton (CFR), down 35 euros / ton from last week; This week, a Japanese steel mill shipped hot coil to Italy for June at $820/mt (CFR).

Note: EUR 855 = RMB 6472 EUR 850 = RMB 6434 (at the exchange rate of RMB to USD on April 13)