In the last week of January, both buyers and sellers of cold rolled coils (CRC) and coated steel in Europe agree that demand has remained weak, with consumption still lagging behind due to low volumes. However, sources have reported that more inquiries have started to emerge from different countries in the region, including Spain, France, and, notably, Germany which has been absent for a long time, though flat steel demand in Italy has remained muted, as buyers had secured substantial volumes both domestically and through imports in November.
More specifically, in the domestic CRC market, European mills have been offering their materials at €680-690/mt ex-works for March and April delivery in Italy, mainly the same as two weeks ago, and at €670-690/mt ex-works for March and April delivery in the north, versus €670-680/mt ex-works two weeks ago. However, tradable prices have been voiced at around €660-670/mt ex-works both in Italy and in northern Europe, against €660/mt ex-works reported two weeks ago. “Although raising current prices could enhance revenue, it is still insufficient to secure profitability,” a market insider told SteelOrbis.
In the import segment, most offers for CRC have remained stable or showed only a slight upward bias in some offers, standing at €630-650/mt CFR, depending on the supplier. Offers for ex-India CRC have been voiced at €650/mt CFR, against €640-650/mt CFR two weeks ago, while offers for ex-Taiwan CRC have settled at around €640/mt CFR. Offers for ex-Vietnam CRC have been estimated at around €640-645/mt CFR southern Europe, while offers for ex-Turkey CRC have been voiced at €660/mt CFR from mills and at €680/mt CFR through traders, according to sources.
In the meantime, in the HDG segment, domestic offers from mills have settled at €670-710/mt CFR in the north, the same as two weeks ago and around €690-700/mt ex-works in Italy, up by around €10/mt on the higher end of the range over the past two weeks. However, domestic workable prices in the region have settled at around €670-680/mt ex-works both in Italy and in the north, against €670/mt ex-works two weeks ago.
Import HDG prices for ex-Asia Z120-140 materials have settled at around €720-730/mt CFR, mainly the same as two weeks ago, though lower offers for ex-Vietnam and ex-Taiwan have also been circulating in the market at around €685/mt CFR this week.