International Steel Market Daily: European Steel Prices Rise

The price of Nordic HRC and Italian HRC remained stable this week. The price of HRC for May shipment in the Nordic market was around 860 Euros/ton, but according to Mysteel, there was no transaction at this price, and the real transaction price was 810 Around EUR/ton, prices lower than EUR 800/ton are basically not accepted. Currently, steel mills are also raising quotations, and the transaction price of small tonnage is basically maintained at around 800-810 euros/ton, and there is still room for a further rise in prices. The main reason is that the demand is tight, the order volume is sufficient, and the demand side is stable. In terms of imported hot coils, the price of imported hot coils from India and Southeast Asia is around 760 Euros/ton CFR Italy.

In terms of European cold coil and hot-dip galvanizing, due to rising demand and limited supply, the price has risen. The current domestic cold coil price in Europe is 870 euros/ton, which is basically flat week-on-week, and the price of hot-dip galvanizing is 940 euro/ton, which is a week-on-week rise. About 30 EUR/ton.

For European medium and heavy plates, due to good demand, traders will return to the market within 1-2 weeks, and will start to replenish stocks in March, and prices are expected to continue to rise in March. The current European domestic plate price is 1030 euros/ton, an increase of 25 euros/ton week-on-week.

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