Trading in The European Hot Coil Market Is Light, And It Is Difficult To Raise Prices For Imported Resources

Today, the prices of hot coils in Europe remain unchanged, and the spot market for hot coils in Europe is currently in a state of “oversupply”, with sluggish transactions and only a small number of back-to-back trades. A Nordic trader stated that they have already accumulated a large amount of inventory in the service center, so they are in a wait-and-see attitude towards purchasing new inventory and are currently purchasing on demand.

At present, the summer vacation in many regions of Europe has begun, so many traders are no longer trading in the market. Some buyers who obtained September orders have already received the goods, and the hot coils delivered in October will start a new round of negotiations at the end of August and beginning of September. In Germany, the price of hot coils delivered in September ranges from 610-630 euros (equivalent to 661-683 US dollars/ton EXW), with a weekly decrease of about 3 euros/ton EXW.

Due to new safeguard measures and potential anti-dumping investigations, it remains to be further determined whether the import situation in Europe will change, so the import prospects for September are still unclear. It is reported that the import price of hot coils in Southern Europe is 590-600 euros/ton (equivalent to 638 US dollars/ton -650 US dollars/ton CFR, including cost and freight per ton and anti-dumping duties), the import price in Vietnam is 570 euros/ton CFR, and the Saudi Arabian resources for delivering hot coils in October are approximately 590-600 euros/ton CFR (cost and freight).