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| Monday Market Monitor - EU - WEEK 35 - Domestic mills eying hikes - 06 Sep, 2010 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The gap between domestic and import prices is increasing, mainly in long products where import is almost virtual, owing the structural unexploited overcapacity. During last week all EU Mills have announced price increases all across their production range, ranging between EUR 30 per tonne to EUR 50 per tonne. Specifically debars producers have announced increases up to EUR 50 per tonne leveraging on ongoing scrap price increase. The move has been justified by the scrap price increase and tight supply, although many of the main mills are holding good stock of raw materials and semis. As a result merchant bars are now quoted around EUR 290 per tonne to EUR 310 per tonne basis EXW from a previous EUR 260 per tonne to EUR 280 per tonne while Beams are edging above EUR 600 per tonne. However it seems more a move aimed to maintain the present level as the actual economic conjuncture doesn't allow much hopes of real price increases. Next days will indicate whether or not the increase will be accepted by the market. Customers are remaining extremely reluctant to book important quantities on long term delivery time as still feeling very unsure about the demand of their respective markets. First reactions are not that promising as demand continues to remain low and sluggish with customers taking a very conservative position. Also, a good portion of producers have a scarce order portfolio and, as a consequence, still producing at reduced pace, with some of de bars mills still producing only Saturday and Sunday. Most probably the price will settle slightly over the previous levels, gaining a portion of the indicated increase which, in any case would be welcoming by all mills. In Spain as in Italy, customers are refusing to book HRP at prices ranging EUR 530 per tonne to EUR 540 per tonne CFR FO and preferring to postpone decision. Many of them are still preferring to source material from domestic mills notwithstanding that price differential is increasing. Chinese offers to EU are remaining uncompetitive despite the recent price decrease in their respective domestic market. On the other hand Brazilian mills are becoming more aggressive, pushed by the sudden fall of domestic market where high stock levels are restricting sales and seriously dumping prices. It is reported that Brazilian Mills are aggressively offering HRC to various EU destinations at price levels said to be around USD 630 per tonne to USD 640 per tonne CFR FO. It equates to EUR 490 per tonne to EIUR 500 per tonne CFR FO. The offers will definitely have a negative impact on the attempt of EU steel mills to increase prices by EUR 30 per tonne for October December quarter. It is also reported that some major trading houses are offering CRC and HDG to South Europe at prices respectively ranging EUR 600 per tonne to EUR 610 per tonne and EUR 640 per tonne to EUR 660 per tonne FOT main Mediterranean and Atlantic ports, from undisclosed origins. Other major Chinese Mills are offering through traders CRC at prices ranging EUR 620 per tonne to EUR 630 per tonne CFR FO main South Europe Ports. These are signs of an apparent price deterioration in flat products in Europe. On the horizon nothing better than present, uncertain and extremely erratic situation can be seen. Consumption is still low and demand weak as a result of the end of state aids and bail out. Particularly car market is feeling the pain with deep negative results in the main EU markets like Italy and Germany. In other words, the same doubts and worrying scenarios that have determined the negative trend of the last months are still influencing the mood of all operators, still strongly following a defensive and extremely conservative attitude. 1. Plates HRP S 235 / S275JR 5-20x2000
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 2. Hot Rolled Coils HRC S235JR 2-12x1000-1500
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 3. Cold Rolled coils CRC DC 01 0.60 Avx1250
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 4. Hot Dipped Galvanized HDG DX 51 D / Z100-120 / AS 0.55 - 0.57x AW
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 5. Merchant bars Merchant bars (B) S235JR 5 to 150 mm
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 6. IPN / UPN IPN / UPN (B) S235JR 50 to 400 mm
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 7. HEA/B/M HEA/B/M (E) S235JR 100 to 600 mm
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 8. De-Bars De-Bars (E) FE500 6 to 40 mm
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 9. WRC Mesh WR Mesh (E) S235JR 5.5 to 16 mm
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne 10. WRC Drawing WR Drawing (E) SAE 1006/8 5.5 to 16 mm
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne (E) - Effective (B) - Base CFR Antwerp
Change is on Sep 3rd 2010 as compared to Aug 27th 2010 In EUR per tonne The scope of service includes 1. Domestic pricing information in Germany, Italy and Spain 2. Import pricing information in Germany, Italy and Spain 3. Import levels at Antwerp and Turkey 4. Export levels from Turkey, Rotterdam, China, India and Black Sea The service is specifically designed to assist steel makers, traders, users and others connected with the industry to keep track of real time prices prevailing in the market and thus comprehensively evaluate steel pricing trends in the region Methodology and access 1. Benchmark products in each category with fixed commonly used sizes and grades 2. Base prices or effective, as per market trends 3. Average transaction levels which have settled well, based on continuous interactions with domestic mills, overseas suppliers, importers stockiest & service centers and buyers 4. On fixed market oriented payment terms 5. Weekly updates 6. Data available since February 2009 5. Access through web site Products covered 1. Input materials and semis in Europe 2. Long Products in Europe 3. Flat Products in Europe 4. CFR Turkey prices 5. FOB levels for export FOB Black Sea, China, Turkey and India Price basis and payment terms for Europe 1. Price basis - B- Base price and E - Effective price 2. Payment term - All prices in Europe are net to the final customer with following payment terms A. Italy & Spain 1. Domestic prices are EXW or DDP with payment 90 days from delivery 2. Import prices are CIF FO with LC at 90 days from BL date B. Germany 1. Domestic prices are EXW or DDP with payment on the 15th of the following month 2. Import prices are CFR FO with open term payment at 30 days from date of arrival Other features The prices are displayed on weekly and monthly basis. They also have search facilities to access old data from the archives. Graphical representation of trends and comparison of price movement 2 or more products is also available. In addition, you can monitor currency exchange rates, metal prices, BDI for the day as well as access their archives for past data. Other features include converters for weight, length etc, glossary and advanced search functions. The benchmark product price information is supplemented by global pricing news. Subscription charges for 12 months access
How to subscribe 1. Register at www.steelprices-europe.com and pay on line or ask for invoice 2. Send mail to admin@steelprices-europe.com. (Sourced from www.steelprices-europe.com) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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