European cold rolled coil (CRC) and hot-dipped galvanized (HDG) coil prices have remained relatively stable over the past week, though still below the offer levels seen in early May, as sluggish demand and cautious purchasing activity have continued to weigh on the market. While domestic mills have largely maintained their pricing strategies, buyers have remained reluctant to commit to significant volumes amid weak downstream demand and sufficient inventories. In the import segment, however, activity has been even more limited, as ongoing trade restrictions, antidumping measures and uncertainty surrounding CBAM-related costs have continued to discourage buyers. As a result, foreign suppliers have lowered their offers further over the past week in an effort to stimulate demand and secure orders.
In the domestic CRC market, most offers from mills in Italy and northern Europe have been reported at €770-810/mt ex-works, down by €5/mt on the upper end of the range compared to last week. Tradable prices have meanwhile been estimated at around €770-780/mt ex-works, with market participants indicating that buyers have remained cautious and largely focused on immediate requirements.
In the import CRC segment, offers have settled at €645-680/mt CFR, depending on the supplier, down by €25-30/mt compared to last week. Only limited CFR-based offers have been heard in the market recently, as uncertainty regarding future CBAM costs has continued to discourage import purchases. More specifically, offers for ex-Turkey CRC have been reported at around $750/mt CFR, equivalent to approximately €645/mt CFR, while ex-China CRC offers have been heard at around $775-780/mt CFR, translating to roughly €668-672/mt CFR. In addition, according to market sources, a deal for ex-India CRC was reportedly concluded at $790/mt CFR, or approximately €680/mt CFR Spain, at the beginning of this week. At the same time, trader offers for ex-India CRC have also been reported at around €800/mt DDP, including CBAM-related costs.
In the domestic HDG segment, mills in both Italy and northern Europe have continued targeting €780-800/mt ex-works, unchanged compared to last week. However, despite stable offer levels, trading activity has remained subdued, with buyers showing little urgency to replenish stocks.
Import HDG offers have meanwhile been reported at €725-785/mt CFR, depending on supplier and coating specification. In particular, offers for ex-Vietnam Z140 HDG have settled at around $840/mt CFR Bilbao, equivalent to approximately €725/mt CFR, while offers for ex-Vietnam Z275 HDG have been reported at around $880/mt CFR, or approximately €757/mt CFR. In addition, offers for ex-India Z140 HDG and ex-Turkey Z100 HDG have both been heard at around €785/mt CFR.
Furthermore, import HDG offers on a DDP basis, including CBAM-related costs, have generally been estimated at €850/mt DDP and above. In particular, offers for ex-Japan Z275 HDG have been reported at around €860/mt DDP Spain this week. Market participants noted that while some DDP offers remain competitive compared to domestic prices, uncertainty regarding future CBAM implementation and trade policy developments continues to limit buyers' willingness to place import orders.
Overall, market sentiment in both the CRC and HDG segments has remained weak, with most participants expecting only limited price movement in the near term unless demand improves significantly, or greater clarity emerges regarding CBAM costs and EU trade measures.
