Buyers in the European flat steel market had completed their purchases before the Easter holiday and so demand in the market is currently at low levels. Market sources believe that market players will return to the market without delay and that demand will improve accordingly. With the US dollar maintaining its strength against the euro, import volumes arriving in the European market have declined, while the exchange rate has provided support for exports. Market sources state that this has also boosted market sentiment and caused an acceleration in local demand.
This week, local offers in the European market are in the range of €400-430/mt ($436-469/mt) for hot rolled coil (HRC), at €450-480/mt ($491-523/mt) for cold rolled coil (CRC), and at €480-500/mt ($523-545/mt) for hot dip galvanized coil (HDG), all on ex-works basis. Import offers to the region are currently in the range of €370-390/mt ($403-425/mt) CFR for HRC, at €450-470/mt ($491-512/mt) CFR for CRC, and at €500-520/mt ($545-567/mt) CFR for HDG.
€1 = $1.09