Over the past week, prices in the European flat steel market, which was expected to increase following the imposition of definitive antidumping duties on imports of hot rolled coil (HRC) from Brazil, Russia, Ukraine and Iran, has decreased due to the ongoing price pressure from buyers and since Turkish and Indian exporters have made lower-priced offers to the region. Market sources state that flat steel demand from end-users is still strong, while traders and service centres are expected to refresh their inventories in short term.
Therefore, in the local European market, HRC prices have decreased by €20/mt to €500-540/mt ($590-637/mt) ex-works, cold rolled coil (CRC) prices have declined by €10/mt to €580-620/mt ($684-732/mt) ex-works and hot dip galvanized (HDG) coil prices have decreased by €10/mt to €610-660/mt ($720-779/mt) ex-works, all week on week.
Meanwhile, import flat steel offers to Europe are at €500-520/mt ($590-614/mt) CFR for HRC and are at €570-590/mt ($673-696/mt) CFR for CRC.
€1 = $1.18