Cold rolled coil (CRC) and hot dip galvanized (HDG) prices in Europe have weakened further this week, as subdued activity during the holiday period continues to weigh on the market. Still, some industry participants believe that prices may now be nearing a floor, with little room left for significant additional declines. At the same time, an increasing number of service centers are stepping back from imports, citing cost-related risks linked to upcoming trade measures such as the Carbon Border Adjustment Mechanism (CBAM) and existing safeguard duties.
Specifically, in the domestic CRC market, mills in Italy have been offering their materials at €630-640/mt ex-works, compared to €630-650/mt ex-works last week. In the north, most offers from mills have been voiced at €655/mt ex-works, down by €10/mt over the past week. However, tradable prices have been voiced in Italy at around €620-630/mt ex-works, and at €630/mt ex-works in northern Europe, down by €10/mt week on week.
In the import segment, most offers for CRC have moved sideways over the past week, standing at €590-610/mt CFR, depending on the supplier. Offers for ex-India CRC have been voiced at around €600/mt CFR. Besides, offers from Japan have been voiced at €610/mt CFR, while offers from other Asian suppliers have been estimated at around €590-610/mt CFR level.
In the meantime, in the HDG segment, domestic offers from mills in Italy have settled at around €655/mt ex-works, down by €5-10/mt week on week, while offers from mills in the north have been reported at €670/mt ex-works. However, domestic workable prices in the region have settled at around €640-650/mt ex-works, down by at least €10/mt over the past week.
In the import segment, trade has remained limited, with offers for ex-Asia HDG Z100-120 voiced at €660-680/mt CFR, depending on the supplier, mainly the same as two weeks ago.
