Cheaper steel imports find their way into Europe, but buyers still cautious: sources

Customers were heard to be registering more interest in import material, with some buyers in Italy reportedly able to fetch discounts.

"In the past two weeks we've seen a storm. There is a lack of material in Europe and demand is very strong," an Italian mill source said, "Today if you buy from imports you get more or less the same delivery time, and you can save around Eur30-40/mt if you're quick enough to get an allocation."

Hot-rolled coil import prices were heard at Eur742.50/mt ($885.89/mt) CIF Italy Ports ex-Asia and cold-rolled coil prices at Eur865/mt ex-Asia, with the latter deemed "the best import offer for the Italian customer," according to the same mill source.

The same mill source said it would not be a surprise to see HRC stabilize at Eur770-780/mt ex-works Italy by this week, making imports more attractive to customers.