Southern European HRC prices steady in December
Southern European hot rolled coil prices are forecast to remain stable in December, market sources tell Kallanish. The latest large transactions show that the price decline seen over the past months has finally stopped as demonstrated by a €3-5/tonne ($3.1-5.2/t) uptick seen in some Italian contracts compared to November.
Many producers have completed their December and January sales but order books at other producers are still incomplete for the last month of the year. Due to the current price crisis, mills will implement longer holidays stops starting in December and are asking employees to take longer vacation periods.
There is uncertainty about the feasibility of the announced €20/tonne increase for January in Italy as service centres are refusing to sign any new contracts at increased prices. The mills that have completed their December and January order books will be able to push the increases, sources say. Those that are still struggling to fill their December order books will have less power in negotiations and may agree to weaker prices, sources say.
The Southern European price range for HRC in December is stable and on a slight upward trend at €260-290/t ($275-307/t) base ex-works, sources suggest. The price for Chinese HRC is currently at $260/t fob, sources reveal. Most service centres are expected to shut down starting December 18-20.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous