Prices in the local European flat steel market, which indicated record increases two weeks ago, resulting in confusion in the market, have continued their upward trend over the past week. While European buyers’ bookings of import flat steel have been limited amid ongoing antidumping cases against most overseas suppliers, European mills have continued to increase their flat steel prices due to high production costs amid high raw material prices, and this has resulted in a slowdown in trading activity in market.
During the past week, hot rolled coil (HRC) prices in the local European flat steel market have increased by €30/mt ($32/mt) to €500-580/mt ($530-615/mt) ex-works. In the same period, cold rolled coil (CRC) prices have risen by €10/mt ($11/mt) on the lower end and by €30/mt ($32/mt) on the upper end to €600-690/mt ($636-731/mt) and hot dip galvanized (HDG) coil offers have moved up by €60/mt ($64/mt) on the lower end and by €30/mt ($32/mt) on the upper end to €620-700/mt ($657-742/mt), both ex-works.
€1 = $1.06