Considering the continuing slow demand from end-users in Europe coupled with further price drops in the hot rolled coil (HRC) segment, the tradable prices for cold rolled coil (CRC) and hot dip galvanized (HDG) have dropped once again this week, though most European mills have kept refraining from giving firm offers.
More specifically, in the domestic CRC market in the EU, tradable prices have dropped to €710-720/mt ex-works, down by €10/mt week on week, with the lower end of the range corresponding to offers in Italy at €710-730/mt ex-works, and the higher end corresponding to offers at €720-730/mt ex-works in northern Europe. “Order books are still very thin for CRC and also for HDG, as many sellers have materials for November delivery,” a market insider told SteelOrbis.
Meanwhile, import prices for CRC in southern Europe have been voiced at €675-680/mt CFR, down by €5-10/mt over the past week. According to sources, following a deal for ex-Taiwan CRC at €680/mt CFR Italy, another batch is reported to have been sold in Italy at €672/mt CFR. Offers for ex-India CRC have been voiced at €680/mt CFR, while offers from Japan and South Korea are at around €685/mt CFR. As for import offers for CRC in northern Europe, most prices have been heard at €680-690/mt CFR, down by €5/mt on the higher end of the range week on week.
At the same time, tradable local prices for HDG have been estimated at €730-750/mt ex-works Italy, down by €20/mt week on week and at €740-750/mt ex-works in northern Europe, falling by €10-20/mt over the past week. In the meantime, import offers for HDG in southern Europe have settled at €780-795/mt CFR, with offers from Vietnam coming at around $785/mt CFR. Offers for imported HDG in northern Europe have remained unchanged at €780-790/mt CFR.