European cold rolled coil (CRC) and hot dip galvanized (HDG) prices have remained largely unchanged over the past week, reflecting a relatively stable market. Import activity, however, has remained subdued as buyers have continued to adopt a cautious stance. Market participants point to ongoing uncertainty surrounding the forthcoming Carbon Border Adjustment Mechanism (CBAM) framework as a key factor dampening appetite for overseas material. At the same time, the European Commission’s recently launched antidumping (AD) investigation into CRC imports has further weighed on sentiment, reinforcing the wait-and-see approach among traders and end-users alike.
Specifically, in the domestic CRC market, mills in Italy have been offering their materials at €640-650/mt ex-works, compared to €635-650/mt ex-works two weeks ago. In the north, most offers have been voiced at €670-690/mt ex-works, the same as last week, though workable prices have been reported at €650/mt ex-works.
In the import segment, most offers for CRC have moved sideways over the past week, standing at €610-650/mt CFR, depending on the supplier. "With AD procedures against CRC having started, customers have ceased activities," a Spain-based trader told SteelOrbis.
Two weeks ago, the European Commission launched an antidumping (AD) investigation into CRC imports from India, Japan, Taiwan, Turkey, and Vietnam. Market observers note that the case may curb near-term demand for imported CRC. While this could eventually redirect some buying interest toward European producers and lend support to domestic prices, the short-term impact is likely to be muted given continued weak end-user consumption.
In the HDG segment, domestic offers from mills in Italy have remained at around €655-685/mt ex-works, while offers from mills in the north of Europe have been reported at €680-700/mt ex-works, moving sideways week on week.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €680-700/mt CFR, depending on the supplier, though higher offers at €720/mt CFR and above have been voiced for some “origins safe from AD”, and lower offers for ex-Vietnam Z140 HDG have still been heard at €650/mt CFR south Europe.
