Mills were heard as indicating higher CRC, HDG prices Dec. 7, though buyers still perceived opportunity to secure competitive volumes before the end of the year.
In the cold-rolled coil market, North European prices were up Eur20/mt on week, assessed at Eur720/mt ex-works Ruhr. South European CRC was stable on week, assessed at parity with the Northern market at Eur720/mt ex-works Italy.
Indications for North Europe were received at Eur710-720/mt ex-works Ruhr and Northern Europe, as reported by distribution sources. Higher offers were heard across Europe, with one Italian mill heard as offering in the mid-Eur800s.
Market participants did not view said price level as achievable, however, given the poor consumption outlook for distributors moving into next year, but did agree that the floor had likely been reached.
As for galvanized coil, the HDG ex-works Ruhr price was up Eur10/mt on week at Eur750/mt, with the Italian assessment increasing by Eur15/mt to Eur740/mt ex-works.
While offers in North Europe were generally heard at a Eur750/mt ex-works minimum, deals were rumored as achievable from German mills at Eur720/mt delivered Ruhr on firm bids.
Platts is part of S&P Global Commodity Insights.
— Benjamin Steven, Maria Tanatar
