European CRC and HDG prices have remained largely unchanged over the past two weeks, with mills holding their offers firm on the back of elevated HRC prices. Buyers, however, have stepped up pressure for discounts amid subdued consumption. Import prices have also been broadly stable, but trading has remained slow, with only sporadic deals reported as CBAM-related uncertainty and other trade restrictions continue to weigh on purchasing decisions.
More specifically, in the domestic CRC market, most offers for mills in Italy and northern Europe have been voiced at €850-880/mt ex-works and up to €890-920/mt ex-works across the EU, the same as two weeks ago. However, tradable prices have been estimated at around €850-860/mt ex-works.
In the import segment, offers for CRC have remained rare this week, with indicative prices settling at €730-740/mt CFR, depending on the supplier, mainly the same as two weeks ago. Very few offers have been heard on CFR basis this week, due to AD duty and considering that customers are unwilling to take the risk of purchasing without clarity on CBAM costs. In particular, offers for ex-India CRC have been voiced at around $735/mt CFR, which translates to €727/mt CFR.
Furthermore, offers for import CRC on DDP basis, including CBAM costs, have been estimated at €870-890/mt DDP, with offers mainly coming from South Korea.
In the HDG segment, mills both in Italy and in the north of Europe have been targeting €850-870/mt and up to €880/mt ex-works in some cases, the same as two weeks ago, while domestic tradable prices have settled at €840-850/mt ex-works in both regions.
According to sources, European customers are rumoured to have booked sizable volumes or around 100,000 mt of HDG from Vietnam over the past few weeks, at around $795-800/mt CFR, which translates to €710-715/mt CFR, while offers have been voiced at $810/mt CFR this week. Besides, last week a deal for ex-Vietnam Z100-150 HDG was reported at €920/mt DDP.
$1 = €0.89
Author: SteelOrbis Editorial Team
