Demand in the European flat steel market is still weak, though market players state that the holiday season is almost over and so demand is expected to increase in the coming weeks.
Over the past two weeks, flat steel offers in the local European market have remained unchanged. Accordingly, hot rolled coil prices are still at €350-370/mt ($396-418/mt), cold rolled coil (CRC) offers are at €430-465/mt ($486-525/mt), and hot dip galvanized (HDG) coil offers in northern Europe stand at €460-480/mt ($520-542/mt), while HDG offers in southern Europe are in the range of €410-450/mt ($463-509/mt), all ex-works.
Meanwhile, import HRC and CRC offers to Europe from sources such as China, India, the CIS, Turkey and Iran have also remained unchanged at €320-350/mt ($362-396/mt) CIF and €390-425/mt ($441-480/mt) CIF, respectively.
€1 = $1.13