Prices in the European flat steel market have moved on a downtrend over the past week amid pressure from import flat steel prices.
Over the past week, hot rolled coil (HRC) offers in the local European market have decreased by €40/mt ($45/mt) on the low end and declined by €10/mt ($11/mt) on the upper end to €310-360/mt ($350-407/mt), while cold rolled coil (CRC) offers have decreased by €30/mt ($34/mt) on the low end and softened by €5/mt ($6/mt) on the upper end to €400-460/mt ($452-520/mt), all ex-works. Meanwhile, over the past week hot dip galvanized (HDG) coil offers in northern Europe have remained stable at €460-480/mt ($520-542/mt), while HDG offers in southern Europe have declined by €10/mt ($11/mt) on the low end and decreased by €20/mt ($23/mt) on the upper end to the range of €400-430/mt ($452-486/mt), all ex-works.
€1 = $1.13