During the past two weeks, buyers in the European flat steel markets have maintained a wait-and see stance and postponed their purchases, leading to weak demand in the market. Market sources report that, with the upward movement of the Chinese steel market coming to an end and iron ore prices declining, the global flat steel market remains under downward pressure. Accordingly, new price decreases are anticipated in the local European flat steel market.
Domestic hot rolled coil (
HRC) and hot dip
galvanized (HDG) coil prices in Europe have remained stable over the past two weeks at €500-550/mt ($545-600/mt) and €630-680/mt ($687-741/mt), respectively, both ex-works. Meanwhile, cold rolled coil (
CRC) quotations in the region have declined by €10/mt in the same period to €600-650/mt ($654-709) ex-works.
€1 = $1.09