European domestic CRC and HDG prices extended their upward trend in the week to Wednesday August 5, with steady demand and healthy mill order books continuing to support higher prices, even as summer holidays reduced overall market activity.
The trend was particularly pronounced in the CRC segment, where sources reported that September-delivery material had largely been sold out, limiting spot availability and supporting higher prices.
“Mills are pushing more to sell HDG than CRC now,” a German buyer source told Fastmarkets.
Market participants also said that stricter CRC safeguard quotas, antidumping investigation against several origins and risks related to the Carbon Border Adjustment Mechanism were weighing on import activity, resulting in higher demand for domestic material.
In Northern Europe, CRC offers came within the range of €830-850 ($956-979) per tonne ex-works, with indications of tradable levels coming within the wide range of €800-850 per tonne ex-works. The majority of estimates, however, came at €825-840 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Northern Europe was €825-840 per tonne on Wednesday, up from €800-830 per tonne on July 29.
In Southern Europe, offers of CRC were heard at €860 per tonne delivered, which is netting back to around €845 per tonne ex-works.
Indications of tradable levels, however, came at €820 per tonne ex-works, which was reflected in the corresponding Fastmarkets’ assessment.
The assessment for steel cold-rolled coil domestic, exw Southern Europe increased to €820 per tonne on Wednesday, up from €800-830 per tonne on July 29.
HDG prices were also on the upward track in Europe, however, they were somewhat lagging CRC, while typically situation is the opposite. This was, however, dictated by reduced availability of the CRC explained above.
In Northern Europe, CRC offers varied within the range of €830-850 per tonne ex-works, with indications of tradable levels coming within the wide range of €800-840 per tonne ex-works. The majority of indications, however, came within the range of €820-830 per tonne ex-works.
Thus, Fastmarkets weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was €820-830 per tonne on August 5, up from €800-830 per tonne on July 29.
In Southern Europe, the HDG market was comparatively much weaker, with offers coming at €830-835 per tonne ex-works, while indications of tradable levels still came at €800 per tonne ex-works.
Fastmarkets weekly price assessment for steel hot-dipped galvanized coil domestic, exw Southern Europe was €800-830 per tonne on August 5, stable week on week.
