Domestic prices for cold-rolled and hot-dip galvanized coil in Northern Europe were little changed in the week to Wednesday February 4; buyers were reluctant to accept new offers, with some opting for risky import bookings to diversify supply sources, Fastmrkets heard.
Domestic market
Integrated suppliers in Northern Europe were able to offer April delivery for both CRC and HDG, with first-quarter volumes said to be sold out.
Higher offer prices for CRC and HDG with April lead times, announced in late January by major suppliers across Europe, were not sealed in deals so far.
Notably, in Germany, Sweden and the Benelux area, offer prices for CRC varied in the range of €790-815 ($934-964) per tonne ex-works, depending on supplier.
For HDG, offers were slightly lower, at €790-805 per tonne ex-works.
While the price rise was still being absorbed by the market, buyer feedback across both Northern and Southern Europe continued to point to lower achievable transaction levels for cold-rolled and hot-dipped galvanized products.
Buyers in Germany, Sweden and the Benelux area estimated workable levels for CRC at no higher than €750-770 per tonne ex-works and for HDG at €760-770 per tonne ex-works — pretty much in line with the previous assessment period.
Suppliers agreed that it was hard to seal new offers in deals, with some mill`s indicating achievable levels for CRC around €770 per tonne ex-works and €770-780 per tonne ex-works for HDG.
Fastmarkets’ weekly price assessments for steel cold-rolled coil domestic, exw Northern Europe and for steel hot-dipped galvanized coil domestic, exw Northern Europe were €760-770 per tonne on Wednesday, both narrowing upward by €10 per tonne from €750-770 per tonne on January 28.
Imports
Sources in Germany reported transactions for overseas coil, despite ongoing uncertainty around Carbon Border Adjustment Mechanism (CBAM) costs for imports.
Europe’s cold-rolled coil market has historically relied heavily on imported material, particularly for standard commodity grades. But recent regulatory changes have significantly narrowed sourcing options. In particular, an ongoing anti-dumping probe covering CRC shipments from India, Japan, Taiwan, Turkey and Vietnam — which together account for roughly two-thirds of the EU’s total CRC import volume — has materially reduced the availability of foreign supply.
“We take the risk [of importing coil] to diversify supply sources. Plus, new safeguards will come into force in July — so it is best to import coil before that, because the new regime suggests a 50% imports cut,” a buyer in Germany said.
Last week the European Parliament voted in favor of a new trade regime for the steel sector, proposing lower import quotas and capping tariff-free steel imports at 18.3 million tonnes per year, down by 47% from 2024 quota levels. The new regime, still subject to European Council vote, is expected to come into effect as of July 1.
A transaction for China-origin CRC was reported at €770 per tonne DDP, inclusive of CBAM costs and an anti-dumping duty.
Brazilian CRC was heard booked in Benelux and Germany at €730-750 per tone DDP, inclusive of CBAM costs.
The weekly price assessment for steel cold-rolled coil import, ddp Northern Europe was €730-770 per tonne on February 4, up from €720-750 per tonne seven days prior.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil import, ddp Northern Europe was €740-770 per tonne on Wednesday, widening downward from €750-770 per tonne seven days before.
Several sources reported a deal for Taiwanese HDG, 1mm, z120 done at €740 per tonne DDP.
Offers for other Asian HDG were reported at €750-770 per tonne DDP, CBAM inclusive.
For HDG imports, tight quotas and CBAM also remained the major stumbling blocks, limiting interest for new bookings.
