Aligned with the international trend flat products has shown positive correction in EU.
The apparent reason is the lack of material availability as compared with present customers demand. The production cuts operated months ago are now finally showing their consequences, while buyers have consistently dried up inventories.
1. HRC
HRC prices have shown an improvement of EUR 50 per tonne to EUR 70 per tonne in the last 3 weeks. Presently offers are ranging between EUR 360 per tonne to EUR 380 per tonne CFR FO depending on the origin and size. Ukrainian mills are quoting EUR 350 per tonne to EUR 360 per tonne while 1st Class mills from North America and Brazil are looking for prices above EUR 370 per tonne to EUR 380 per tonne CFR FO basis at sight.
CRC
Offers are prevailing in the band of EUR 400 per tonne to EUR 440 per tonne CFR FO.
HDG
Offers are touching EUR 550 per tonne CFR FO and are likely to surpass these levels. This vibrancy is attracting some Chinese mills who are offering prime stock material at EUR 500 per tonne to EUR 580 per tonne CFR FO depending on thickness and coating.
HRP
Quotations are improving albeit at slower pace. Prices have improved by EUR 20 per tonne to EUR 30 per tonne. There is strong resistance to further improvement due to lack of demand and high inventories. Offers made at prices around EUR 420 per tonne plus extras CIF FO have not evoked interest.
Italian producers are apparently still booking in Spain at prices around EUR 400 per tonne DDP. In Germany prices have not yet reached the EUR 400 per tonne mark as inventories are still quite high, about 7 months. East European Mills are still quoting prices ranging between EUR 380 per tonne to EUR 420 per tonne DDU Germany, with Polish producers being the most aggressive. North Italian producers have slightly increased prices to about EUR 380 per tonne EXW with some exceptions at EUR 360 per tonne EXW.