The European markets for cold rolled coil (CRC) and hot dip galvanized (HDG) products have shown little change in recent weeks. Despite attempts by domestic producers to push prices higher in response to elevated production costs, actual transaction levels have stayed consistently low. This is largely due to subdued demand and a lack of positive momentum in the hot rolled coil (HRC) sector. On the import side, offers for CRC and HDG have experienced a modest downward drift mainly due to currency fluctuations. However, trading volumes have remained restrained, as many European buyers continue to hold ample inventories, reducing their immediate need to replenish stock.
More specifically, in the domestic CRC market, European mills have been offering their materials at €730-740/mt ex-works for June delivery in Italy, the same as last week and up by around €10/mt on the lower end of the range over the past two weeks. Meanwhile, offers from mills in the north have been estimated at €730-750/mt ex-works for June-July delivery, the same as two weeks ago. However, tradable prices have been voiced at around €720-740/mt ex-works in Italy and at €730-740/mt ex-works in northern Europe, against €710-730/mt ex-works reported two weeks ago.
In the import segment, most offers for CRC have remained stable, standing at €635-660/mt CFR, depending on the supplier. Offers for ex-India CRC have been voiced at €635/mt CFR, while offers for ex-Japan CRC have settled at around €660/mt CFR. Besides, offers from Brazil have also been voiced at around €635/mt CFR this week, according to sources.
In the meantime, in the HDG segment, domestic offers from mills have settled at €780-800/mt ex-works in the north, against €740-750/mt CFR two weeks ago and around €770-780/mt ex-works in Italy, up by €20/mt over the past two weeks. However, domestic workable prices in the region have settled at around €740-750/mt ex-works both in Italy and in the north, against €720-750/mt ex-works two weeks ago.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €695-730/mt CFR, against €700-740/mt CFR two week ago, depending on the supplier. In particular, offers for ex-Vietnam HDG have been reported at $790/mt CFR, which translates to around €695/mt CFR, while offers from India have been estimated at around €700-710/mt CFR. Besides, offers for ex-Turkey HDG have been reported at $850/mt CFR, duty included, which translates to €747/mt CFR.
$1 = €0.88