During the past two weeks, demand for flat steel in the European region has remained strong. It is observed that flat steel prices in the region are at their highest levels since 2012, though this has had no negative impact on domestic flat steel demand.
According to the market sources, European buyers are showing no resistance to the increased flat steel quotations due to the expectations of a decline in steel supply in the region as the prevailing opinion in the market is that the European Union will impose similar duties on steel imports following the 25 tariff imposed by the US on import steel, though with exemptions for certain countries, within the scope of the Section 232 probe.
Flat steel prices in Europe have increased by €10/mt over the past two weeks. For now, HRC prices in Europe are at €560-590/mt ($689-726/mt), while cold rolled coil (CRC) and hot dip galvanized (HDG) coil prices are at €630-680/mt ($775-836/mt) and €650-700/mt ($800-861/mt), respectively, all ex-works.
€1 = $1.23