Steel prices in Europe last week “more or less” remained on the levels of previous week with the exception of some long products where Spanish producers pushed hard to collect order.
Billets from Black Sea seem to have stabilized at a level of USD 530 per tonne to FOB ST with no signs of possible next decrease. This is equaling to a CFR FO price of about USD 560 per tonne or EUR 400 per tonne CFRFO and EUR 415 per tonne DDU.
Because of this new situation Italian Debars producers have decided to stop sale activity in order to stop price decrease. Present quotations and bookings are around EUR 220 per tonne basis EXW which is equivalent to about EUR 450 per tonne effective EXW
Wire rod prices in South Europe slide down close to EUR 400 per tonne with Turkish Mills offering around EUR 415 per tonne CFR FO. However, domestic producers were booking at prices ranging EUR 410 per tonne to EUR 420 per tonne DDU which is preventing import for the time being.
But some Spanish beams producers are reported to have booked order at levels of USD 680 per tonne or say EUR 485per tonne CFR FO Alexandria Egypt for Category 1 and EUR 500 per tonne CFR FO Tunisia. Same producers were offering and booking beams in North Italy at prices ranging between EUR 530 per tonne to EUR 540 per tonne DDU. Another major producer is reported to have sold IPE Category 2 at prices ranging between EUR 480 per tonne to EUR 490 per tonne CFR FO Morocco. In Germany beams Category 1 could be sold at prices not higher than EUR 530 per tonne to EUR 540 per tonne DDU while Austrian market did not accept more than EUR 520 per tonne to EUR530 per tonne DDU.
HRC prices struggled with offers going around EUR 440 per tonne to EUR 470 per tonne CFR FO with major EU Mills resisting at EUR 480 per tonne level.
HDG has taken a deep dive in North Europe where price of Z140 0.58 mm could barely achieve EUR 600 per tonne FOT main ports equivalent to EUR 585 per tonne to EUR 590 per tonne CFR FO.
HRP also lost ground with offers from Ukraine going around at prices not higher than EUR 510 per tonne CFR FO without any apparent interest of buyers.