Business activity in the CR and coated steel segment has been extremely quiet across Europe amid the approaching holiday period. Many mills have preferred to stop actively offering for the time being while seeing a very limited number of inquiries. While at least the next two weeks are expected to be very slow and activity is expected to start reviving only at the end of August, there is little doubt that European mills will attempt price increases. In the import segment, again few offers have been heard despite the Q3 CRC quota being largely unfilled, mainly due to the ongoing AD case involving several origins.
Domestic prices for CRC and HDG in Europe have mainly stood at €830-840/mt ex-works this week at workable levels, while ArcelorMittal's prices have officially stood at €880/mt ex-works according to the latest announcement. However, sources report that the window for securing lower CR and HDG prices in Europe has now closed, and only some mills are offering €860/mt ex-works with the intention of increasing their offers once business activity resumes, SteelOrbis has learned. Some sources have reported €960/mt ex-works as an effective price for 0.5 mm Z275 material.
In the import CRC segment, August-September shipment material from Turkey has been offered at €620-630/mt CFR, with little interest seen due to the ongoing AD case. Korean material has been available in Central Europe at €840-850/mt CPT, while Serbian CRC, according to sources, has been offered at €820/mt delivered for September delivery. The latest CFR offers from South Korea have been reported at €835-840/mt, but market participants do not take them seriously. “To me, there is no offer in the market as there is no customer,” a trader told SteelOrbis. In addition, some market participants have reported small-volume import positions sold at €805-810/mt FCA in southern Europe.
