EUROPE HRC: Buyers avoid new deals on expected price decrease


European buyers of hot-rolled coil have been holding back from making new deals due to the risks related to restocking ahead of an expected price decrease.

Import offers have been fairly stable, although suppliers were also said to be keen to give discounts on firm bids.

  • Nonetheless, offers on overseas coil remained high when compared with domestic prices.
  • The latest offers of HRC from India were heard at €690-700 per tonne CFR Antwerp.
  • And Turkish mills have been offering HRC at $775 per tonne CFR, with the price excluding preliminary anti-dumping duties.
  • A Turkish mill sold HRC to Southern Europe at $800 per tonne FOB( including the anti-dumping duties)
    The European Commission set preliminary anti-dumping duties at 4.8-7.6% on HRC from Turkey earlier this month.
  • Offers of HRC from India and Japan have been heard at €680-685 per tonne CFR Italian ports, down by about €5-10 per tonne week on week.