Platts reported that after months of near constant price rises, the European hot rolled coil market lost its strength last week. Platts said that the price of EU made HRC slipped by EUR 10 per tonne to a new midpoint of EUR 770 per tonne EXW Ruhr and imported material down by EUR 15 per tonne to EUR 765 per tonne CIF Antwerp.
The report cited a trader as saying that "We are now talking EUR 780 to EUR 790 per tonne DDP Germany for local HRC, a far cry from the EUR 820 per tonne July-August base prices announced by North and East-European mills a month ago.”
Imports from China now equate to EUR 750 per tonne to EUR 760 per tonne CIF Antwerp, while Indian material was selling at EUR 760 per tonne to EUR 780 per tonne CIF Antwerp.
As per report, Chinese tier 1mill’s offers were at USD 1,020 per tonne to USD 1,060 per tonne FOB basis and tier 2 mills offers, often for material with boron to reduce tax exposure, were at USD 980 per tonne to USD 990 per tonne on FOB basis.
