Domestic prices for coated and cold rolled coils (CRC) in Europe have once again decreased sharply over the past week, while bids from domestic customers have been heard at even lower levels. The main reason is the stalled demand in the local market, while import prices have kept decreasing, putting pressure on local producers.
Currently, import offers for CRC in southern Europe have been heard at €690-710/mt CFR, versus €710-720/mt CFR last week. According to sources, several deals for ex-India CRC were reported at €705-710/mt CFR at the beginning of this week, down by €10-15/mt as compared to offers last week. Meanwhile, by the end of the week offers for ex-South Korea CRC have been voiced at around €690/mt CFR. This means the gap between import offers and local CRC quotes stands at around €125/mt, with local workable CRC prices standing at €820-830/mt ex-works, down by €20/mt week on week.
Prices for CRC in northern Europe have been voiced at around €840/mt ex-works, versus €850-860/mt ex-works last week. Meanwhile, offers for imported CRC have been heard at €695-715/mt CFR, down by €25-35/mt week on week.
At the same time, local prices for HDG have been estimated at €840-860/mt ex-works, down by around €20/mt week on week, with the lower end of the range corresponding to offers in Italy and with the higher end in northern Europe. However, according to market insiders, local customers have been targeting levels as low as €800/mt ex-works given the pressure coming from foreign suppliers. Import prices for HDG have been on the wane this week, falling to €780-808/mt CFR in southern Europe, with the lower end of the range corresponding to offers from Vietnam. At the same time, offers for ex-Taiwan HDG have been reported at €790/mt CFR, while suppliers from India and South Korea have been offering their materials at €800/mt CFR and €808/mt CFR, respectively. Meanwhile, offers for imported HRC in northern Europe have been voiced at around €800-810/mt CFR Antwerp, versus €820-825/mt CFR last week.
