European CRC and HDG prices have softened over the past two weeks, declining by around €20/mt amid persistently weak demand across the region, with tradable values for both products are now hovering at approximately €800/mt ex-works. At the same time, while mills have continued to maintain a relatively firm stance, supported by still-elevated prices in the HRC segment, buyers are increasingly pushing for additional discounts, citing subdued consumption. On the import side, pricing has remained broadly stable, however, trading activity is still limited, with only sporadic deals reported due to ongoing constraints related to trade measures such as CBAM.
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 versus €820-830/mt ex-works two weeks ago. However, tradable prices have been estimated at around €800/mt ex-works, down by €20/mt over the past two weeks.
In the import segment, offers for CRC have remained rare this week, with indicative prices settling at €720-750/mt CFR, depending on the supplier, mainly the same as two weeks ago. 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-India CRC have been voiced at around $850/mt CFR, which translates to €727/mt CFR.
Furthermore, offers for import CRC on DDP basis, including CBAM costs, have been estimated at €780-800/mt DDP, with deal prices for ex-China CRC reported at slightly below €800/mt DDP level this week.
In the HDG segment, mills both in Italy and in the north of Europe have been targeting €800-820/mt ex-works compared to €820-830/mt ex-works two week ago, while domestic tradable prices have settled at €800/mt ex-works in both regions, down by €20/mt over the period under review.
Import offers for ex-Vietnam for Z275 grade HDG have been voiced at €750/mt CFR, the same as two weeks ago, while offers for ex-Taiwan HDG though traders have been reported at €800/mt DDP, versus €800-805/mt DDP two weeks ago. Furthermore, according to sources, offers from one of the Indian HDG supplier (grade Z140) have been voiced at as high as €900/mt DDP. Besides, offers for ex-Turkey HDG (grade Z275) have been voiced at around €830-850/mt DDP.