The downtrend in cold rolled coil (CRC) and hot dip galvanized (HDG) prices has continued across Europe this week, in line with the persistent weakness in the hot rolled coil (HRC) segment. Demand has slowed even further, with traditional seasonal factors - such as reduced activity during the summer months - weighing more heavily on buying interest. As a result, market sentiment remains cautious, with both buyers and sellers adjusting expectations amid limited transactions and growing concerns about potential further price erosion.
Specifically, in the domestic CRC market, mills in Italy have been offering their materials at €680/mt ex-works, compared to €700/mt ex-works two weeks ago. In the north, most offers from mills have been voiced at €670-680/mt ex-works, down by €30/mt over the past two weeks. However, tradable prices have been voiced in Italy at around €660-670/mt ex-works, against €680-700/mt ex-works two weeks ago, and at €670/mt ex-works in northern Europe, down by €20/mt over the past two weeks.
In the import segment, most offers for CRC have moved down over the past two weeks, standing at €590-630/mt CFR, depending on the supplier, down by €10-20/mt over the past two weeks. Offers for ex-India CRC have been voiced at around €600-605/mt CFR, while offers from other Asian suppliers have been estimated at around €590-610/mt CFR.
In the meantime, in the HDG segment, domestic offers both from mills in Italy and northern Europe have settled at €680-690/mt ex-works, against €700-720/mt ex-works two weeks ago. However, domestic workable prices in the region have settled at around €670-680/mt ex-works, down by at least €20/mt over the past two weeks.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €670-700/mt CFR, depending on the supplier, mainly the same as two weeks ago.