Steel import prices in the EU continue to fall

EU steel importers continue to feel pressure from falling prices. There is little evidence that prices have bottomed out and most importers still have material to sell at the docks that were ordered between June and July.

Indian and Turkish suppliers are offering HRCs at around 405-410 Euros per tonne (445-450 US dollars per tonne) compared to Southern Europe. One trader notes that although Turkish factories have remained stable at this level for more than a week, Indian suppliers continue to reduce their supply.

“I think the Indian offerings can be very competitive at the moment,” the source says. However, another trader adds that Turkish suppliers appear to be trying to raise prices. “I saw bids rise by $ 10 /tonne this week as scrap prices began to reverse and the exchange rate shifted,” he adds.

In accordance with the price range, HRC import prices to Europe have lost about 60-80 euros per tonne from June-July. In August, European steelmakers announced an attempt to raise prices, but they were unsuccessful.

“We bought back in July because we did not expect such a sharp drop in prices in Asia. Most traders have done the same, as have many service centers. Now we need to resolve the situation and the negative sentiments that persist in the market, ”comments an Italian source. "If you ask me, I would say that now is probably a good time to buy through imports, but buyers in Europe are still waiting."