Demand in the European flat steel market, which had started to recover last week, has continued to improve this week, reaching medium levels. In line with the increased demand, buyers have started to exert pressure on prices and prices have declined on the upper end.
Over the past week, prices in the local European flat steel market have moved downwards, with hot rolled coil (HRC) prices decreasing by €30/mt on the upper end to €520-570/mt ($551-604/mt), cold rolled coil (CRC) prices declining by €50/mt on the upper end to €650-670/mt ($689-710/mt) and hot dip galvanized product offers decreasing by €50/mt on the upper end to €640-670/mt ($678-710/mt), all ex-works.
€1 = $1.06