In the past week, trading activity in the European flat steel market has been lively, while prices have moved up slightly against the backdrop of lower hot rolled coil supply in the EU. European market players expect further increases in prices given higher raw material prices, especially given the nine percent growth in global iron ore and scrap prices last week.
Over the past week, in the local European flat steel market, hot rolled coil (HRC) prices increased by €10/mt to €530-580/mt ($562-615/mt), cold rolled coil (CRC) prices and hot dip galvanized product offers both increased by an average of €5/mt to €640-690/mt ($678-731/mt) and €630-690/mt ($668-731/mt), respectively, all ex-works. HRC offers given to the EU from India and Turkey are respectively at $500-510/mt FOB and $510-515/mt FOB.
€1 = $1.06