Domestic prices for cold-rolled and hot-dipped galvanized coil have been fairly stable in Europe in the week to Dec. 21 due a to seasonal slowdown.
Some Northern European mills, however, have been trying to increase offers for HDG.
Apart from traditional slowdown of market activity in the second half of December, market participants have also indicated that demand for CRC has been weaker compared to other coil products. This was mainly due to limited interest from the main end-consuming industries, including automotive and white goods.
Negotiations for H1 2023 and full-year 2023 contracts between end users and steelmakers have continued as the parties struggle to reach agreement.
“The mills will try to move spot prices close to their aimed long-term agreement prices to get addition argument in the negotiations,” a steelmaker said.
Platts assessed domestic CRC prices in Northern Europe at Eur750/mt ex-works Ruhr Dec. 21, unchanged day on day and up Eur10 week on week. The assessment was based on achievable prices estimated my market sources at Eur740-Eur750/mt ex-works Ruhr.
The assessment for the region’s domestic HDG prices has been stable over the week at Eur760/mt ex-works Ruhr.
Few deals have been reported at Eur770-Eur780/mt ex-works Ruhr and at the equivalent of Eur740-Eur760/mt ex-works Northern Europe.
Market sources estimated tradable value at Eur760/mt ex-works Northern Europe. Meanwhile, offers have been heard at Eur800-Eur830/mt ex-works Ruhr, making upper end of the range Eur30 higher previous indications.
The assessment for domestic CRC in southern Europe has been stable week on week at Eur740/mt ex-works Italy, reflecting tradable values heard in the market.
Platts also assessed domestic HDG in Southern Europe unchanged on the week at Eur760/mt ex-works, reflecting tradable values reported at Eur760/mt ex-works.
Platts is part of S&P Global Commodity Insights.
— Maria Tanatar, Benjamin Steven
