The situation has remained broadly stable in the European cold rolled coil (CRC) and hot dip galvanized (HDG) markets in the past week. Although local mills have been trying to sustain their offers, tradable prices have decreased slightly over the past two weeks due to weak demand and worse sentiment in the hot rolled coil (HRC) segment. Meanwhile, in the import segment, most offers for both CRC and HDG have kept showing a slight downward trend.
In the domestic CRC market in the EU, most producers are offering at €730-750/mt ex-works, against €730-760/mt ex-works two weeks ago, though, according to sources, customers have been insisting on discounts, bidding at €720-725/mt ex-works Italy, down by €5/mt week on week, while the tradable price level in northern Europe has been estimated at €730/mt ex-works.
Meanwhile, import prices for CRC in southern Europe have been voiced at €685-705/mt CFR, against €690-710/mt CFR last week. The lower end of the range corresponds to deal prices for ex-India CRC for around 5,000-6,000 mt signed at €685-690/mt CFR, though most offers for ex-India CRC are still voiced at €700/mt CFR. Offers from Taiwan have been reported at around €700/mt CFR, while suppliers from South Korea and Japan have been offering their materials at €705/mt CFR. Offers for ex-Turkey CRC have been estimated at $755/mt CFR or around €705/mt CFR, the same as last week.
Local prices for HDG have been assessed at €740-760/mt ex-works from mills in Italy and at €750-760/mt ex-works from suppliers in northern Europe, which means offers have decreased by €10/mt over the past two weeks in both regions. Meanwhile, tradable prices both in Italy and in the north have been voiced at €740-750/mt CFR for delivery in August.
At the same time, most import offers for HDG mainly for Z120-140 from Asia have settled at $840-855/mt CFR, which translates to around €785-800/mt CFR southern Europe, down by €5/mt over the past two weeks. Offers from Vietnam have been estimated at €785/mt CFR, while ex-Taiwan and ex-India HDG offers have been estimated at €788/mt CFR and €800/mt CFR, respectively. Indicative offers for ex-Turkey HDG have been assessed at $860/mt CFR or around €802/mt CFR.
$1 = €0.93