EU CRC rises on automotive recovery, HDG stays down

Prices for cold-rolled coil in the European market rose alongside recovering demand from the automotive sector July 20, while galvanized material continued the downward trend.

For cold-rolled material, Platts assessed North European CRC up Eur5/mt at Eur955/mt ex-works Ruhr. In South Europe, CRC was also up Eur5/mt, assessed at Eur890/mt ex-works Italy.

In the Northern market, a deal was heard at Eur980/mt delivered ex-Northern Europe, normalized to Eur960/mt ex-works Northern Europe by the mill source.

Other mill sources agreed to the ex-works price level, citing tradable value at a range of Eur950-960/mt ex-works Ruhr.

In South Europe, offers for CRC were reported at Eur920/mt ex-works Italy — though negotiable prices were considered lower by mill and distribution sources at Eur880-900/mt ex-works Italy.

Cold-rolled prices edged up across Europe, stimulated by recovering automotive demand.

Availability of value-added coils was inflated in recent weeks given reduced demand from the automotive sector, allowing mills to push additional volumes into the spot market. However, a degree of recovery was reported on the day, with a mill source saying automotive buyers had returned to take planned volumes with a particular uptick in CRC demand.

Increased demand has not yet manifested for galvanized products, with HDG assessed down on the day across Europe.

In North Europe, HDG moved down Eur15/mt to Eur1000/mt ex-works Ruhr. Italian HDG was also down Eur15/mt on the week, assessed at Eur900/mt ex-works Italy.

A deal was heard done in the Northern market at Eur1,000/mt delivered ex-Northern Europe, the equivalent of Eur980/mt ex-works. Mill sources saw workable levels as higher, at around Eur1,000/mt ex-works Ruhr.

In the Italian market, an offer was heard at Eur930/mt ex-works Italy — sources saw tradable value at a range of Eur880-920/mt ex-works Italy, with the majority of indications concentrated at the Eur900/mt mark.

— Benjamin Steven, Maria Tanatar