European steel boom is bullish, and the price of deformed steel is under pressure

European steel mills are still aiming to increase the price of hot coils in the second quarter. ArcelorMittal raised the price of local hot coils in May by 20 euros/ton this week. The current price is 830 euros/ton EXW, but the estimated market transaction price is about 790 euros/ton EXW. At present, the steel factory orders are in good condition, the service center inventory is down, and the demand is good. In the Nordic market, the coils with the delivery date of April have basically been sold out. It is expected that traders in the European market will replenish the inventory of the coils with the delivery date of May within two weeks. In the import market, import quotations have been very rare since Tuesday. Although an Indian trader quoted 730 euros/ton CFR Italy, the number of tons traded is not large. The price of the hot coil imported from Korea in April is 760 euros/ton CFR Italy (815 dollars/ton), and the price of the hot coil imported from Japan is 780 euros/ton CFR Italy. In the construction industry, mainly affected by the cost and economic downturn, the order is relatively low, and the price of deformed steel is under pressure. At present, the market price of deformed steel in Europe is 780 USD/ton EXW, with a month-on-month decrease of about 50 USD/ton.

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