Leading European steelmakers reportedly raised their ex-works HRC offer price to €740 per tonne ($809.51) from €720 per tonne in the first half of November, while the local per day steel HRC index, excluding Northern Europe, increased by €0.05 per tonne to €690.88 per tonne from €690.83 per tonne last week.
The HRC index for Italy was up €13.75 per tonne on a weekly basis and €46.67 per tonne on a monthly basis.
Producers in Italy reportedly kept their offers for HRC for February delivery at €720 per tonne (€705 per tonne ex-works), but no deals were reported to be made at this level. Sources said that some Italian suppliers may lower their offers to €705-710 per tonne ex-works (€690-695 per tonne ex-works), but most producers are expected to keep their prices below €700 per tonne ex-works. On the other hand, buyers in Italy reported a prevailing price of €670-690 per ton ex-works for HRC at the end of last week.
Import offers to the EU remained limited last week, with the lowest offers reported from Vietnam at €640-645 per tonne CFR for February delivery to Italy. Turkey's offers were the highest at €680-690 per ton CFR including anti-dumping duties.
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