This week, domestic prices for coated steel and cold rolled coil (CRC) in Europe have once again decreased sharply, though major European producers have kept refraining from giving active offers given the still limited end-user demand. At the same time, this week import prices have decreased at a slower pace as compared to previous weeks, providing market players with hope for stabilization.
More specifically, import offers for CRC in southern Europe, coming mainly from Asia, have been reported at around €685-700/mt CFR, down by €5-10/mt over the past week. However, according to sources, deals have remained very rare, as most customers have been in wait-and-see mode, affected by slow demand. In particular, offers for ex-Taiwan CRC have been voiced at €685/mt CFR, while offers for ex-India CRC have settled at €695-700/mt CFR, versus €705-715/mt CFR last week. Besides, offers from South Korea and Japan have been reported at €690-700/mt CFR, the same as last week. This means the gap between import offers and local CRC quotes stands at around €95-100/mt, with local workable CRC prices standing at €780-800/mt ex-works, down by €30-40/mt week on week.
Tradable prices for CRC in northern Europe have been voiced at around €800-820/mt ex-works, versus €840/mt ex-works last week. Meanwhile, offers for imported CRC have been heard at €690-710/mt CFR, down by €5/mt week on week.
In the meantime, local prices for HDG have been estimated at €800-840/mt ex-works, down by €20-40/mt week on week, with the lower end of the range as expected corresponding to offers in Italy and with the higher end in northern Europe. “Since the end of last week, local customers in Italy have been targeting €800/mt ex-works, so we expected the prices to drop,” a market insider said.
Meanwhile, import prices for HDG have remained relatively stable this week, standing at €780-808/mt CFR southern Europe, with the lower end of the range corresponding to ex-Vietnam offers, and with the higher end for ex-South Korea. Besides, HDG offers from Taiwan have been reported at around €790/mt, the same as last week, while ex-India HDG has dropped by €10/mt week on week to €790/mt CFR. Meanwhile, offers for imported HDG in northern Europe have been voiced at around €800-810/mt CFR Antwerp, the same as last week.