Although both buyers and sellers of cold rolled coils (CRC) and coated steel in Europe agree that demand has remained weak, with consumption still lagging behind due to low volumes, European producers have continued to go higher in terms of prices mainly amid the continuous support from the uptrend in hot-rolled coil (HRC) prices. Meanwhile, import activity has continued at a slow pace, with fresh talks of upcoming trade defense measures, including the proposed "melted and poured" rule, stirring uncertainty in the market.
More specifically, in the domestic CRC market, European mills have been offering their materials at €730-740/mt ex-works for May delivery in Italy, up by €20/mt on the lower end of range over the past two weeks, and at €730-750/mt ex-works for May-June delivery in the north, up by €10-20/mt since the beginning of March. However, tradable prices have been voiced at around €710-720/mt ex-works both in Italy and in northern Europe, against €700-710/mt ex-works reported two weeks ago.
In the import segment, most offers for CRC have remained stable or showed downward bias in some offers, standing at €635-660/mt CFR, depending on the supplier, against €650-670/mt CFR two weeks ago. Offers for ex-Vietnam CRC have been voiced at €660/mt CFR, against €650/mt CFR two weeks ago, while offers for ex-Taiwan CRC have settled at around €650/mt CFR, down by €10-20/mt.
In the meantime, in the HDG segment, domestic offers from mills have settled at €740-750/mt CFR in the north, the same as two weeks ago and around €730-750/mt ex-works in Italy. At the same time, according to sources, mills have been targeting hikes for June delivery at around €780/mt and some even €800/mt ex-works. However, as for now, domestic workable prices in the region have settled at around €720-750/mt ex-works both in Italy and in the north, against €720-730/mt ex-works two weeks ago.
In the import segment, trade has remained limited, with offers for ex-Asia HDH Z100-120 voiced at €700-740/mt CFR, depending on supplier.
At the same time, market insiders have been actively discussing that the European Commission is preparing to implement a new "melted and poured" rule as part of its metals strategy, aiming to strengthen trade defense measures. This rule will determine the origin of steel and metal products based on where the metal was originally melted, rather than where it was later processed. The goal is to close loopholes that allow exporters to avoid duties through minimal processing. The change could significantly impact EU imports, particularly of steel products like cold-rolled and hot-dip galvanized steel and is seen as a major development by industry players. The move aligns with requests from EUROFER to tighten rules on imports from countries like China.