Steel prices during last week have substantially kept same levels of pervious week with reductions mainly touching HDG and HRC in North Europe.
The situation is not clear at all, with buyers still insisting on prices well below actual available offers. The demand seems gradually taking ground but price levels are extremely tight.
More than following the market trend, buyers are basing their bids on the expected retail prices for which is almost impossible to obtain increases. Financing and insurances are still keeping same very conservative attitude as per last months and payment delays, defaults and bankruptcies are sensibly increasing.
All in all, the scenario remains the same of last period but with a generalized shared feeling that, unless of sudden new negative elements, the situation will worsen.
Several Mills have again revised their production plans with substantial cutting and reduction to cope with the always weak demand. Others, as de bars and merchant bars producers have on the contrary pushed prices down as much as possible to keep production and productivity at higher levels.
Offers of materials are available without any particular difficulty, with major Trading starting to take "positions", betting on a possible next market and price improvement. Mainly on HRC, some operator has decided to book contracts for important quantities with shipment January onwards.
Now the main offers available in the market for HRC are the following.
1. Mobarakeh through VAIT - 385
2. Mobarakeh through Bally - 365
3. VAIT (Own production) - 410
4. Tiangang (new facility) - 370
5. Beitai through Corus - 365
6. Anyang through ThyssenKrupp Trading - 365
7. Corus UK/NL - 370 DDP
8. Riva - 380 DDP
9. ArcelorMittal - 390 DDP
10. Ilyich - 340 to 345 with LC at sight
All prices in EUR per tonne CFR FO one EU disport, minimum quantity 5000 tonnes basis 2 mm with extra to be negotiated, payment LC at 90 days from BL date
1. Plates - Bulks under buyers pressure
HRP
S 235 / S275JR
5-20x2000
| Country | Domestic | Import |
| Germany | 0 | -10 |
| Spain | 0 | -5 |
| Italy | -10 | 0 |
Change is on November 6th as compared to October 30th 2009
In EUR per tonne.
2. Hot Rolled Coils - Token improvement on hope of gains
HRC
S235JR
2-12x1000-1500
| Country | Domestic | Import |
| Germany | 0 | 0 |
| Spain | 0 | 0 |
| Italy | -10 | 5 |
Change is on November 6th as compared to October 30th 2009
In EUR per tonne
3. Cold Rolled coils - Impasse continues
CRC
DC 01
0.60 Avx1250
| Country | Domestic | Import |
| Germany | 0 | 0 |
| Spain | 0 | 0 |
| Italy | -10 | 0 |
Change is on November 6th as compared to October 30th 2009
In EUR per tonne
4. Hot Dipped Galvanized - Continuity of Chinese whirlwind
HDG
DX 51 D / Z100-120 / AS
0.55 - 0.57x AW
| Country | Domestic | Import |
| Germany | 0 | -10 |
| Spain | 0 | 0 |
| Italy | -10 | -10 |
Change is on November 6th as compared to October 30th 2009
In EUR per tonne
5. CFR Antwerp - No let up
| Product | Grade | Thick mm | Change |
| HRP | S235JR | 10-60x2500 | -10 |
| HRP | S355J2+N | 10-60x2500 | -10 |
| HRC | S235JR | 2-12x1250 | -5 |
| CRC | DC 01 | 0.60 Avx1250 | 0 |
| HDG | DX 51 D/Z 180/NA-C | 0.60 Avx1250 | -10 |
Change is on November 6th as compared to October 30th 2009
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
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(Sourced from www.steelprices-europe.com)
