European cold rolled coil (CRC) and hot dip galvanized (HDG) prices have remained broadly stable in the domestic market over the past week, supported mainly by limited transaction activity amid persistently slow demand. On the import side, pricing has also shown little movement, but trading activity continues to be constrained, with only sporadic deals reported.
More specifically, in the domestic CRC market, most offers from mills in Italy and northern Europe have been voiced at €800-825/mt ex-works, the same as last week. Besides, tradable prices have been estimated at around €790-800/mt ex-works, down by €10/mt on the lower end of the range week on week.
In the import segment, offers for CRC have remained rare this week, with indicative prices settling at €700-750/mt CFR, depending on the supplier, down by €20/mt on the lower end of the range since last week. Very few offers have been heard on CFR basis this week, due to AD duty and considering that customers are unwilling to take the risk of purchasing without clarity on CBAM costs. In particular, offers for ex-Vietnam CRC have been voiced at around $820/mt CFR, which translates to €701/mt CFR, while offers from Indonesia have been heard at around €730/mt CFR. However, according to sources, higher offers for ex-Thailand CRC in particular have been circulating in the market at $900/mt CFR, which translates to €770/mt CFR.
Furthermore, offers for import CRC on DDP basis, including CBAM costs, have been estimated at €780-800/mt DDP, the same as last week.
In the HDG segment, mills both in Italy and in the north of Europe have been targeting €800-820/mt ex-works, the same as last week, while domestic tradable prices have remained at €800/mt ex-works in both regions.
Import offers for ex-Vietnam HDG have been voiced at €715/mt CFR, while offers for ex-Taiwan Z100 grade HDG have been reported at $850/mt CFR, which translates to €727/mt CFR.
$1 = €0.86
