On 22 May, local prices of hot rolled coil in Europe were stable, but market sentiment remained weak. The downward trend was dominated by competitive import offers, limited local demand from distribution channels and expected increases in supply within the EU following the restart of capacities closed for maintenance or technical issues. As a result, buyers were cautious about placing coil orders due to the risk of an expected price decrease.
Local prices for hot rolled coil in Northwest Europe were assessed at EUR 760/mt ex Ruhr mill on 22 May.
In Southern Europe, local hot rolled coil prices were assessed at EUR700/mt ex Italy on 22 May, unchanged during the day. Official offers were reported at EUR750/mt ex Italy, while bids were assessed at EUR670/mt ex Italy. Market participants estimated that prices ex-Italy could be realised at around EUR700/mt.
For import hot rolled coil in Southern Europe, prices were assessed stable at EUR600/mt CIF Italy on 22 May. For products originating from the Far East, offers were reported in the range of EUR 600-620/mt CIF Italy.
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