It is reported on that Russian steel major has booked 3000 tonnes of HRC at EUR 325 per tonne DDU Dortmund with extended delivery schedule of 1000 tonnes each in April, May and June last week.
Considering the delivery schedule and delivery terms, the deal reflects weakening market conditions for HR in EU.
This deal brings HR closer to our short term forecast for EU, as under, made on February 23rd 2009, much before anticipations.
Country | Domestic | Import | Prediction |
Italy | 360-370 | 340-360 | 300-320 |
Spain | 350-360 | 330-350 | 300-310 |
Germany | 400-420 | 350-370 | 320-340 |
In EUR per tonne
All prices are net to the final customer with following payment terms
A. Italy & Spain
1. Domestic prices are EXW or DDP with payment 90 days from delivery
2. Import prices are CIF FO with LC at 90 days from B/L date
B. Germany
1. Domestic prices are EXW or DDP with payment on the 15th of the following month
2. Import prices are CFR FO with open term payment at 30 days from date of arrival