European hot coil prices continue to fall by a large margin
On August 17, the ex factory price index of hot coils in northern Europe was 757.5 euros / ton, down 41.25 euros / ton on a week-on-month basis and 94.17 euros / ton on a month-on-month basis.
According to the news from the Nordic market, the demand for hot coils in this region remained relatively low this week. Some market participants said that the relatively feasible transaction price of hot coils in this region was 750-770 euros / ton. This week, there were several batches of small volume hot coil orders with transaction prices within this range.
In southern Europe, on August 17, the ex factory price index of Italian hot coils was 743.75 euros / ton, down 27.25 euros / ton on a week-on-week basis. This week, the mainstream ex factory price of Italian hot coils is 780-800 euros / ton, and the psychological price of the buyer is 720-750 euros / ton. In the first half of this week, no hot coil order has been heard.
A German trader said that at present, Europe is still in the summer rest period, which will end at the end of August. Traditionally, the summer rest period is a low demand season. At present, some German steel mills have announced that they will start to increase production in September. However, at present, the market demand may improve until the end of September and the beginning of October. At that time, the buyers will have the demand for replenishment.
In the first half of this week, the market of imported hot coils in Europe was also relatively light. At the end of last week, Italian buyers ordered a batch of Korean hot coils, with a transaction price of 650 euros / ton (CFR). On August 17, the assessed import price of hot coils in southern Europe was 650-680 euros / ton (CFR), showing a downward trend compared with 650-700 euros / ton (CFR) last week; On August 17, the assessed import price of hot coils in northern Europe was 670-700 euros / ton (CFR), with a decrease of 20-30 euros / ton on a weekly basis.