HRC
The market is gearing up after August holidays. European mills are attempting to push prices but the activity remains low. However it is widely anticipated that it is a matter of time before the bells start ringing.
Domestic mills have hiked their offers by EUR 30 per tonne to EUR 60 per tonne touching levels of EUR 560 per tonne to EUR 590 per tonne delivered since the August 1st week. But this seems to be an exercise in testing the water as market is yet to react. However in the absence of lucrative import offers it should settle down with an increment of EUR 10 per tonne to EUR 20 per tonne ie at EUR 540 per tonne to EUR 550 per tonne levels.
CRC & HDG
Imported CRC and HDG offers have improved by EUR 10 per tonne to EUR 15 per tonne CFR as buyer’s troop back into the market.
Some bookings of CRC from China and Brazil have been heard at EUR 600 per tonne to EUR 630 CFR up from EUR 570 per tonne to EUR 615 per tonne CFR main EU port from last week.
Likewise HDG bookings from China stand at EUR 620 per tonne to EUR 645 per tonne CFR main EU port, up from offers at EUR 610 per tonne to EUR 620 CFR last week.
It is expected that prices will improve progressively during the due to stock replenishment after the vacation and hike in cost of input material viz., iron ore and scrap.