In the past week, demand has remained strong in the European flat steel market, with prices maintaining an uptrend. Market players have stated that the European flat steel producers are likely to continue increasing their prices, despite the weakening of Chinese flat steel prices. Considering the sharp increases in global raw material and flat steel prices in the past few weeks, European flat steel producers have not been able to reflect the price increases in global markets in their own prices.
Over the past week, in the local European flat steel market, hot rolled coil (HRC) prices have moved up by €10/mt to €540-590/mt ($572-625/mt), cold rolled coil (CRC) prices have increased by €10/mt on the upper end to €640-700/mt ($678-742/mt) and hot dip galvanized (HDG) product offers have risen by €10/mt to €640-700/mt ($678-742/mt), all ex-works and on week-on-week basis. HRC offers given to the EU from India and Turkey have continued to stand at $510-520/mt FOB and $525-530/mt FOB, respectively.
€1 = $1.06