Domestic prices for both cold-rolled and hot-dipped galvanized coil increased in the EU in the week ended Jan. 25, supported by limited availability from European mills.
“Mills are sold out of the first quarter rolling downstream coil, some say that they sold out April,” a Germany-based distributor said. “So, it makes sense that they insist on higher prices.”
Although a bullish mood dominated the European market, some buyers questioned the sustainability of the trend due to slow demand recovery. In addition, some expected that the steelmakers might restart capacities that were idled last year, which would result in increased availability and hamper the price rise.
Platts assessed domestic prices for cold-rolled coil in Northwest Europe at Eur875/mt ex-works Ruhr on Jan. 25, up Eur25 on the day and up Eur50 on the week.
Market participants estimated achievable prices for CRC at Eur850-Eur900/mt ex-works Ruhr.
Platts assessed domestic hot-dipped galvanized prices in the region up Eur50 on the week to Eur920/mt ex-works Ruhr.
Distributors estimated tradable values at Eur900-Eur970/mt ex-works Ruhr. A steelmaker reported an offer at Eur930/mt ex-works Ruhr.
A German mill was also reported to have increased its official offers to Eur1,100/mt ex-works Ruhr for HDG, but market participants deemed the price as too high, and it was not included into the assessment.
Platts assessed domestic prices for CRC in Southern Europe at Eur830/mt ex-works Italy on Jan. 25, up Eur15 week on week.
Buyers reported tradable values at Eur810-Eur830/mt ex-works Italy and a mill reported tradeable values at Eur870/mt ex-works Italy.
The assessment for domestic prices for HDG in Southern Europe also increased Eur20 on the week to Eur850/mt ex-works Italy, reflecting achievable prices heard at Eur850/mt ex-works and offers reported at Eur880/mt ex-works.
Platts is part of S&P Global Commodity Insights.
— Maria Tanatar
