With the beginning of the New Year, some players have gradually started to return to the European flat steel market, though most of them are still on holiday. As a result, demand in the market is still slack, while trading activity is at very low levels. Trading activity in European flat steel market is expected to gain momentum and demand is expected to start to recover after mid-January.
Over the past two weeks, prices in the local European flat steel market have remained stable, with hot rolled coil (HRC) prices standing at €530-600/mt ($557-630/mt), cold rolled coil (CRC) prices at €650-720/mt ($683-756/mt) and hot dip galvanized product offers at €640-720/mt ($672-756/mt), all ex-works.
€1 = $1.04