European cold rolled coil (CRC) and hot dip galvanized (HDG) prices have posted a modest uptick this week, despite overall market activity remaining sluggish in the wake of the summer holidays. At the same time, more service centers are retreating from import purchases, pointing to cost risks tied to upcoming trade measures like the Carbon Border Adjustment Mechanism (CBAM) and the continuation of safeguard duties.
Specifically, in the domestic CRC market, mills in Italy have been offering their materials at €635-650/mt ex-works, compared to €630-640/mt ex-works two weeks ago. In the north, most offers from mills have been voiced at €660-690/mt ex-works, up by €10/mt over the past two weeks.
In the import segment, most offers for CRC have moved sideways over the past week, standing at €610-650/mt CFR, depending on the supplier. Offers for ex-Taiwan CRC have been voiced at around €610/mt CFR, up by €20/mt over the past two weeks. Besides, offers from Japan have been voiced at €610/mt CFR, while offers from other Asian suppliers have been estimated at around €590-610/mt CFR levels.
In the meantime, in the HDG segment, domestic offers from mills in Italy have settled at around €655-660/mt ex-works, up by €5/mt since mid-August, while offers from mills in the north of Europe have been reported at €670-700/mt ex-works, compared to €670/mt ex-works at the beginning of August.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €660-690/mt CFR, depending on the supplier, up by €10/mt on the higher end of the range since mid-August.