European Hot Rolled Coil Prices Continued to Rise Significantly

On February 23, 2022, the ex factory price index of hot rolled coil in Northern Europe was 966.3 euros (1094.2 dollars) / ton, up 24.3 euros / ton on a weekly basis and 21.3 euros / ton on a monthly basis.

According to the European market news, at present, most end users in Europe have good demand for hot rolled coils, but the demand of the automotive industry is still relatively weak. At present, the hot rolled coil inventory of dealers in Northern Europe is high, but the demand of downstream buyers remains strong, so these dealers are still planning to replenish the hot rolled coil inventory. Recently, the supply of overseas hot rolled coil resources to the European market has decreased, and the quotation shows an upward trend. At the same time, the delivery time is also long, so buyers' acceptance of local hot coil in Europe is increasing. According to market news, recently, with the sharp rise of tensions between Russia and Ukraine, Russia is facing the uncertainty of trade sanctions, and European buyers have cancelled the previous hot rolled coil contract signed with Russian sever steel company.

On February 23, the ex factory price index of Italian hot coil was 896.3 euros / ton, up 11.4 euros / ton on a weekly basis and 60 euros / ton on a monthly basis.

On February 23, the evaluation price of imported hot rolled coil in northern Europe was 900-925 euros / ton (CFR), up 25-40 euros / ton on a weekly basis. The evaluation price is based on the quotation of Asian hot rolled coil to the region. On February 23, the evaluation price of hot coil import in Southern Europe was 880-900 euros / ton (CFR), up 20-30 euros / ton on a weekly basis. The evaluation price is based on the quotation of hot coil from Turkey and Asia to the region.