Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
This week, European hot coil prices continued to decline, but the market believes that prices have not yet bottomed out. On Monday, the local price of European heat coils was 690 euros/ton EXW (equivalent to 750.12 US dollars), a decrease of about 4 euros/ton compared to last week, and a decrease of 10.33 euros/ton compared to the previous week. In Northern Europe, the ex factory price of hot coils is between 700-710 euros/ton EXW (equivalent to 765 US dollars/ton -775 US dollars/ton), a decrease of about 30-50 euros/ton compared to the end of February. In terms of market transactions, there are still small batch SPH590 steel purchases, with only 100-200 tons of small batch transactions in the spot market, indicating poor demand. Most buyers are still waiting for prices to further decline, but have not restocked. From the perspective of steel mills, reducing production is currently more important, but there is no clear news of a reduction, mainly because some European SPH590 steel mills have just resumed production of idle blast furnaces in February, so the possibility of another reduction is unlikely. In terms of imports, the quotation for imported hot coils from Asian SPH590 steel mills is 590-600 euros/ton CFR (645 US dollars/ton -656 US dollars/ton CFR).
