European cold-rolled coil (CRC) and hot-dip galvanized (HDG) prices have risen sharply over the past two weeks, supported by notable gains in hot-rolled coil (HRC) values. Market sources say most northern European and Italian mills are now targeting around €750/mt ex-works for January-delivery CRC and HDG. At the same time, changes in the trade landscape are beginning to influence market sentiment. The introduction of the Carbon Border Adjustment Mechanism (CBAM), along with an ongoing antidumping (AD) investigation affecting most traditional import sources, is expected to steadily shift market dynamics and strengthen the role of domestic supply in Europe.
Specifically, in the domestic CRC market, while most mills in Italy have been targeting €730/mt ex-works and above for January delivery coils, compared to €670-680/mt ex-works two weeks ago, the tradable prices have been estimated at €690-700/mt ex-works level. In the north, CRC producers have been aiming January delivery prices at €730-750/mt ex-works, though workable prices have been also reported at €690-700/mt ex-works level, versus €660-670/mt ex-works two weeks ago.
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, the same as two weeks ago. According to sources, despite the AD investigation, Japanese CRC suppliers have been offering their materials at around €620-625/mt CFR southern Europe, while talks about a deal for ex-Japan CRC signed at €605-610/mt CFR, without CBAM, have been circulating in the market this week.
Offers for ex-India CRC have been voiced at €645/mt CFR, excluding CBAM, while offers for ex-Pakistan CRC have also appeared in the market at €635/mt CFR, according to sources.
In the HDG segment, domestic tradable prices both in Italy and in the north have settled at €700-720/mt ex-works, up by €20/mt over the past week, however, mills have been aiming to increase their offers for January delivery HDG to €750/mt ex-works and above level.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €680-720/mt CFR, depending on the supplier, up by €10/mt over the past two weeks, though lower offers at €670/mt CFR have been also voiced for some ex-Asia origins, according to sources.
