Domestic prices for cold rolled (CRC) and hot dip galvanized coils (HDG) in Europe have once again increased over the past two weeks following higher offers for hot rolled coils (HRC). However, according to sources, trade activity has remained rather moderate, as most distributors have kept restocking limited volumes given their already high levels of stocks. Import offers for CRC and HDG have remained relatively unchanged over the past week, with only occasional deals reported in the market for CRC.
More specifically, in the domestic CRC market in the EU, tradable prices have increased by around €10-20/mt over the past two weeks to €700-710/mt ex-works in Italy and to €710-730/mt ex-works in northern Europe. At the same time, European mills have been giving higher offers for CRC at €710-740/mt ex-works for May delivery in Italy and at €730-750/mt ex-works for May and June delivery in the north.
At the same time, import prices for CRC mainly of Asian origin have been voiced at €650-670/mt CFR, depending on the origin and destination, mainly the same as two weeks ago. According to sources, several deals for ex-Taiwan CRC are reported to have been signed in northern Europe at €670/mt CFR Antwerp. Besides, a few deals for ex-India CRC have been signed with Italian buyers at around €650/mt CFR.
In the HDG segment, domestic prices from mills have been voiced at around €740-750/mt ex-works in northern Europe, while mills in Italy have been targeting €730-750/mt ex-works, up by more than €20/mt over the past two weeks. However, the tradable levels for HDG have been estimated at €720-730/mt ex-works in both regions, against €700-710/mt ex-works two weeks ago.
In the import segment, trade has been limited, with offers for ex-Asia for HDG Z120 voiced at €740-750/mt CFR, up by €10/mt on the lower end of the range over the past two weeks.