In the European flat steel market, demand has remained at low levels over the past week, while the downward pressure on domestic flat steel prices from buyers has eased off a little amid rising global flat steel prices. However, buyers are still postponing their purchases as they believe the rising trend of the global flat steel markets will not continue for long.
Domestic hot rolled coil (HRC) prices in Europe have moved sideways week on week at €490-540/mt ($539-594/mt) ex-works. Meanwhile, cold rolled coil (CRC) and hot dip galvanized (HDG) coil prices in the local European market have remained stable in the same period at €600-650/mt ($660-715/mt) ex-works and €630-680/mt ($693-748/mt) ex-works, respectively.
On the other hand, ex-CIS HRC offers to Europe are currently at $440-460/mt FOB, while Turkish and Indian HRC offers to the same destination stand at $480-490/mt FOB and $440-450/mt FOB, respectively.
€1 = $1.1