Demand in the European domestic flat steel market, which had slackened early last week as prices moved downwards on the upper end of the price range, recorded a slight recovery late last week since prices remained at current levels. With support from increased demand, European producers would prefer to increase their prices before the preliminary results of ongoing antidumping cases against import material are announced in April. However, market sources state that any price increases by European producers will not gain acceptance since scrap prices are moving downwards.
Accordingly, prices in the local European flat steel market have remained unchanged over the past week, 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 €640-720/mt ($685-717/mt), all ex-works.
€1 = $1.07