During the past week, demand for import flat steel in Europe has remained at low levels. Meanwhile, market sources state that import flat steel prices are still more advantageous compared to domestic flat steel prices and are putting downward pressure on domestic prices.
Domestic hot rolled coil (HRC) prices in Europe have remained unchanged over the past week at €480-530/mt ($542-599/mt) ex-works. On the other hand, cold rolled coil (CRC) and hot dip galvanized (HDG) coil quotations have respectively declined by €10/mt on average and by €10/mt on the lower end week on week to €580-630/mt ($655-712/mt) ex-works and €610-670/mt (689-757/mt) ex-works.
Additionally, according to market sources, ex-CIS HRC offers to Europe are at $440-460/mt FOB, while Turkish HRC offers to the same destination are at $470-480/mt FOB.
€1 = $1.13