In the European flat steel market, following the softening of prices on the upper end last week, European buyers have reduced their booking activities in anticipation of a further downtrend in prices. While demand in the market has weakened since buyers have started to adopt a wait-and-see stance, prices have remained stable week on week.
Over the past week, prices in the local European flat steel market have remained unchanged, with hot rolled coil (HRC) prices at €520-570/mt ($557-610/mt), cold rolled coil (CRC) prices at €650-670/mt ($696-717/mt) and hot dip galvanized product offers at €640-670/mt ($685-717/mt), all ex-works.
€1 = $1.07