Tel : 0086-0371-86172891
Tel : 0086-0371-86172891
This week, bearish sentiment in the European hot coil market remains, and market restocking has slowed down. The current domestic heat A1011 Grade 70(480) steel coil prices in Europe are at 700 euros/ton EXW (approximately 760 US dollars/ton), a decrease of about 15 euros/ton on a weekly basis, and a decrease of over 50 euros/ton on a monthly basis. The market inquiry prices are constantly being lowered, and the actual transaction price in the near future may be around 680 euros/ton, excluding shipping costs (40 euros), and even some A1011 Grade 70(480) steel buyers have inquired about 650 euros/ton EXW. Based on this, the market generally believes that European steel mills should reduce production to balance the recent decline in hot coil prices, but they do not have such plans. It is understood that if steel mills maintain their current production, domestic hot coil prices in Europe may even be sold at a price of 600 euros per ton in the third quarter of this year.
In terms of imports, the hot rolled resources from Asia are also showing a downward trend in prices due to downstream demand. The price of imported hot coils from Vietnam, South Korea and Taiwan, China is 585-600 euros/ton CFR (640 dollars -655 dollars/ton CFR), most of which are resources in May, but the demand is also less than expected, and the shipping period is longer (1-2 months). It is reported that the May shipping price for hot coils with freight from Saudi Arabia is 570 euros per ton of CFR (625 US dollars per ton of A1011 Grade 70(480) steel CFR).
