ArcelorMittal increased its offers by €50/t to €800/t for HRC and €920/t for hot dip galvanised, and others announced similar increases for April deliveries.
Reactions to the announcement were varied. Some said that factories were not as full as rumoured as February deliveries were already ready, while others said that production remained low and producers still had cargoes waiting.
Market participants said that the last deals in Italy were concluded at €700/t basis delivery from various EU sellers, but at least €10-20/t higher offers were possible in today's market.
A Turkish HRC offer was heard at $730/t cfr excluding duties - this is below ArcelorMittal's current HRC offer, which could open up some sales opportunities for Turkiye.
Some buyers expect offers from India to rise soon, but at the same time, domestic demand prospects in the country are not very strong, which may continue to keep prices at a viable level for EU markets. The prospect of a safeguard duty on April entries under the 'other countries' quota is expected to deter buyers from buying from other Asian suppliers.
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