Recently, the hot rolled coil (HRC) prices have stayed stable in European market due to buyers’ active purchase before the coming of slack season. It’s known that the HRC deal prices were at €545~€555/ton in two week ago.
A European trader indicated that buyers normally returned to stock up before the summer vacation and then huge batches of imported material will spread into European market after the summer vacation.
However, industry sources indicated that the imported materials lack competiveness in European market due to long delivery. Thus, buyers would purchase the spot products from local steel mills rather than waiting for long delivery.
At present, the export quotes from India and China for September delivery are at €530/ton CFR and €525~€530/ton CFR respectively.
( Source: www.yieh.com )