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On May 10, the ex-factory price index of hot coil in the Nordic region was 814.17 euros (887.4 US dollars) / ton, a week-on-week decrease of 8.33 euros / ton, and a month-on-month decrease of 42.83 euros / ton.
According to European market news, there are not many steel mills in Europe releasing the latest quotations for hot coils this week, and the ex-factory quotations for hot coils in the August-September delivery period basically remain at 840-850 euros/ton. At present, some automakers in Europe are about to start negotiating long-term supply contracts for hot coils with steel manufacturers in the second half of the year. Some market participants said that the long-term contract prices in the first half of this year are mostly around 800 euros/ton, and it is expected that the long-term contract prices in the second half of the year will be around Below 800 euros/ton, at the same time, once the long-term contract price is finalized, it will also play a guiding role in spot market prices. Steel mills in the Nordic region have few new quotations for hot coils this week, and some buyers estimate that the more feasible ex-factory transaction prices for hot coils in this region are 800-820 euros/ton.
In southern Europe, the ex-factory price index of Italian hot coil was 785 euros (855.7 US dollars) / ton on May 10, a decrease of 21.25 euros / ton from the previous week and a decrease of 70 euros / ton from the previous month. This week, an Italian steel mill quoted 800-820 euros/ton for hot coils for July delivery, but the current psychological price of Italian buyers is basically below 800 euros/ton.
In terms of imported hot coils, due to the obvious price advantage, European buyers are increasingly willing to purchase imported hot coils. This week’s August-September shipping schedule for HRC from Southeast Asia and Egypt to the mainstream Nordic regions is quoted at 670-690 euros/ton (CFR); this week’s July shipping schedule for Japan, Vietnam and China’s Taiwan HRC to Italy’s mainstream export The quotation is 640-670 euros/ton (CFR), and some Italian buyers are bidding at 600 euros/ton (CFR) for imported HRC.
Note: 814.17 euros = 6180 yuan, 785 euros = 5958 yuan (according to the exchange rate of RMB to euro on May 11)
