Northwest European HRC mills hike offers
Northwest European steelmakers are hiking their hot-rolled coil (HRC) offers in response to strengthening Italian prices, and to use as leverage in fraught contractual negotiations.
Some mills in the north have announced rises of €30-40/t, taking their offers to around €440-450/t ex-works for January production. The rapid escalation in Italian pricing, on the back of the likely idling of Ilva in Italy, has seen the discount for southern material squeezed dramatically compared with the north.
There are still some "ugly" deals available for fairly prompt loading and December arrival, with a couple of northwest European mills eager to fill rolling programmes before the Christmas break.
But buyers say these are reducing in volume, and mills are hardening their stance headed into the first quarter. At least one mill has withdrawn from the market to a large extent, to support its new asking price.
The mill in question tried the same tactic at a similar time last year, but falling import offers from Turkey undermined its position somewhat. This time around, rising import offers — again on the back of the Ilva situation — are helping mills' cases in pushing for an increase.
source: Argus Media
Top News
Glencore in talks to sell Philippine copper smelting unit
Rasul Khalife Soltani, Secretary of the Iranian Steel Producers Association on the sidelines of the 1403 Steel Symposium:
Mobarakeh steel is producing green steel through scrap recycling
Norilsk Nickel plans to sell all it produces in 2025
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
India’s record gold import said to be due to calculation error
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Norge Mining acquires Europe’s largest natural graphite producer
Aluminum price falls to one-month low in wider commodity slump
Skeena advances Eskay Creek permitting, unlocks Orion funding
Lure of Anglo’s copper mines could test BHP’s spending resolve
Copper giant Peru foresees another production plateau in 2025
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Mercuria partners with Zambia on metals trading venture
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Lure of Anglo’s copper mines could test BHP’s spending resolve
Iron ore price weakens as Australia flags return to sub-$100 prices
Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Sibanye raises $500m via metals streaming deal with Franco-Nevada
Triple Flag to acquire royalty on Tres Quebradas lithium project
Volkswagen buys 9.9% of Patriot Battery Metals for $48 million
Aluminum price falls to one-month low in wider commodity slump
India’s record gold import said to be due to calculation error
Glencore in talks to sell Philippine copper smelting unit
