The import price index for HRCs shipped to southern Europe fell to a new six-month low this week as the market fell silent over the summer break. As a result, the level of Turkish export offers decreased again.
After a period of stability in July, this week the price stood at 462.5 euros /ton (517.3 dollars /ton), which is 5 euros /ton less than before. This is the lowest level recorded since the beginning of June this year and is almost 80 EUR /tonne below the figure published in early August 2018.
Global pressure on prices continues to affect the European market. However, further recovery in US housing prices and possible tensions over supplies from ArcelorMittal Italia may well support price increases in Europe after the summer break.
The offered prices for imported HRC are not competitive in the current market.
In July, about 30% of available import quotas in the second quarter were used for HRC in Europe, but these were large volumes awaiting in ports.
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