The main reason for the increasing HRC prices in Europe is stated as the shortage of domestic and import supply. In Italy, local producers are demanding €670-680 per ton for HRC to be delivered in January or February. Import, no longer preferred due to long delivery times and security measures.
In Southern Europe, the daily hot-rolled coil index, excluding Italy, rose from €639.38 per ton to €659.38 per ton the previous day. The index recorded an increase of €26.05 per ton on a weekly basis and €56.88 per ton on a monthly basis.
Import offers from Asia for January-February shipments seem to be around €620-640 per ton CFR. December shipments of HRC from Turkey were announced at €660 per ton CFR, including anti-dumping duty.
Sales of Indian-origin HRC to Italy were made at €640 per ton CFR. The daily hot-rolled coil index, excluding Northern Europe, rose from €659.75 per ton on November 22nd to €665.21 per ton on November 23rd. The index showed an increase of €9.54 per ton on a weekly basis and €55.21 per ton on a monthly basis.
Due to the fear of high prices and capacity reductions, domestic producers are facing longer delivery times. European producers are expected to announce new price increases before the Christmas holiday, and it is anticipated that the new offers could be over €700 per ton ex-works.
According to the source, factories are negotiating with end-users for €750 per ton for the first half of 2024 and are making efforts to bring spot prices to this level.
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