EU HRC: Prices fall despite some higher import quotes
The Italian hot-rolled coil (HRC) market softened further today, as mills looked to sell rollings ahead of the year-end.
Argus' daily Italian index slipped by €3.25/t to €390/t ex-works, meaning it is down by €31/t since the beginning of October. The northwest European HRC market remains quiet, with participants hoping a large industry gathering in Stuttgart, Germany, next week will provide more clarity. The daily northwest Europe index was static at €416.25/t ex-works, while the November swap was assessed €1.50/t lower at €425/t and December remained unchanged at €432/t.
Import offers from certain regions have moved up, with multiple trading firms alluding to Indian and Taiwanese quotes as high as €400/t cfr Italy on an effective basis. But Turkish material has been offered lower, albeit for large cargoes.
One Turkish mill was offering into Italy at about $430/t cfr on an effective basis, equating to €386/t cfr. Another Italian buyer was seeking Turkish material for January shipment.
There was talk of one Italian mill offering competitively to move material, although two others are not as aggressive in the market. Many market participants question what could occur at ArcelorMittal Italia, with the company scheduled to meet government officials soon to discuss the future of the beleaguered Taranto plant.
A German buyer said central and eastern European offers for coil, and heavy plate, were competitive, with the latter offered as low as €485/t delivered from Romania. Some central and eastern European are also making their presence felt in Italy, service centre sources said.
source: Argus Media
Top News
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Glencore in talks to sell Philippine copper smelting unit
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Mercuria partners with Zambia on metals trading venture
Iron ore price weakens as Australia flags return to sub-$100 prices
Triple Flag to acquire royalty on Tres Quebradas lithium project
Aluminum price falls to one-month low in wider commodity slump
Lure of Anglo’s copper mines could test BHP’s spending resolve
Petra Diamonds cuts forecasts, jobs amid market weakness
A STEP FORWARD TOWARDS SAFETY
Sovel contracts Danieli Automation for bar mill upgrading
How the Trump administration can support lithium independence
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security
Midnight Sun receives exploration license renewal for Solwezi copper project in Zambia
Sovel contracts Danieli Automation for bar mill upgrading
How the Trump administration can support lithium independence
Gemfields says unrest could disrupt Mozambique ruby mine
Iron ore price rises on pre-holiday restocking, China stimulus hopes
Canada invests $70m in Seymour Lake lithium project in Ontario
Solar, EVs and a big exit from coal: 2024’s good climate news
Gold price steadies as traders focus on uncertain 2025 rate path
Lithium suppliers seek to rein in price discounts in 2025 talks
Nigeria resumes mining in Zamfara state on improved security