After indicating strong demand over a relatively long period, demand in the European flat steel market has weakened during the past week as buyers have postponed their flat steel purchases due to the approaching Easter holiday. Market sources state that purchases will return to normal levels after the holiday and European steel mills are not expected to make any further increases in their flat steel prices for now due to the downward movement seen in the international markets.
Over the past week, the local European flat steel market has moved sideways with hot rolled coil (
HRC) prices at €540-590/mt ($589-643/mt), cold rolled coil (
CRC) prices at €640-700/mt ($698-763/mt) and hot dip
galvanized (HDG) product offers at €640-700/mt ($698-763/mt), all ex-works. Meantime,
HRC offers given to the EU from India and Turkey have continued to stand at $510-520/mt FOB and $525-530/mt FOB, respectively.
€1 = $1.09