Offers for cold-rolled and hot-dipped galvanized coil in Europe increased in the week to Jan. 11 despite limited interest of the buyers in the material.
Demand remained muted as market participants have just resumed activity after holidays. And although restocking is expected to start soon the situation is unlikely to change drastically due to reduced demand from end consumers.
“It seems that downstream coil is not doing as good as hot-rolled coil, we still do not fully understand what the demand from automotive would be,” a distributor said.
The bullish approach of the mills has been supported by expected demand recovery, revival in Asian market and need to cover high energy costs.
Platts assessed domestic CRC prices in Northern Europe at Eur830/mt ex-works Ruhr Jan. 11, up by Eur30/mt day on day and by Eur45/mt week on week.
Offers from Northern European mill have been reported at the equivalent of Eur830-840/mt ex-works, offers from a German steelmaker – at Eur860-880/mt ex-works Ruhr. An a producer estimated tradable value at Eur840-880/mt ex-works Ruhr.
The assessment for domestic CRC in Southern Europe increased by Eur10/mt on week to Eur770/mt ex-works Italy on Jan. 11. The assessment was based on tradable values and offers heard at Eur760-780/mt ex-works Italy.
Platts assessed domestic hot-dipped galvanized coil prices in the region at Eur780/mt ex-works Italy, unchanged on week. Offers of the material have been heard at Eur750-770/mt ex-works. A buyer estimated the price is likely to reach Eur820/mt ex-works Italy soon and a producer estimated near-term achievable price at Eur880/mt ex-works Italy.
Platts assessed domestic hot-dipped galvanized coil prices in Northwest Europe at Eur830/mt ex-works Ruhr on Jan. 11, up Eur30/mt on the week.
Offers of the material have been heard in the range from Eur800-880/mt ex-works Ruhr.
Platts is part of S&P Global Commodity Insights.
— Maria Tanatar