Earlier this week, European hot-rolled coil producers started increasing their offers in the domestic market in preparation for trade policies changes set to come into effect in the coming months, Fastmarkets heard.
But uncertainty around the European Commission’s proposed safeguard measures and the EU Carbon Border Adjustment Mechanism is limiting demand for flat steel products, according to sources.
“There are still concerns with CBAM and other protective measures that are already in place in the EU,” a distributor source said. “It will all depend on how exporting nations will act,” they added.
According to a second distributor source, there is “a lot of debate” on potential price rises, but “not much push” yet from customers to accept price increases before trade policies become clearer.
Northern Europe
Domestic prices for hot-dipped galvanized coil (HDG) in Northern Europe rose slightly in the week to Wednesday, according to sources.
Estimations of workable levels were heard at €670-700 ($779-814) per tonne ex-works over the last two weeks, with uncertainty around demand and regulatory changes affecting prices.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe was €670-690 per tonne on Wednesday, widening up from €670-680 per tonne in the previous week.
Meanwhile, domestic cold-rolled coil prices were stable.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe was €660-670 per tonne on Wednesday, unchanged week on week.
Prices for HDG and CRC imports in Northern Europe were also unchanged in the week to Wednesday.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Northern Europe was flat at €680-720 per tonne on Wednesday, and the weekly price assessment for steel cold-rolled coil, import, cfr main port Northern Europe was also stable at €620-650 per tonne.
Southern Europe
Southern European domestic CRC prices increased in the week to Wednesday, according to sources.
Estimations of workable levels were heard at €660-670 per tonne ex-works this week, compared with €640-650 per tonne earlier in October.
As a result, Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe was €660-670 per tonne on Wednesday, rising from €640-650 per tonne from the previous assessment period.
Meanwhile, domestic HDG prices in Southern Europe also increased this week, prompted by bullish market sentiment from some producers, sources said.
One supplier in Italy was heard raising offers to €750 per tonne ex-works, but buyers were not ready to accept such high offers yet, according to sources.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe was €670-685 per tonne on Wednesday, narrowing up from €650-685 per tonne the previous week.
Meanwhile, CRC and HDG import prices were stable.
Fastmarkets’ price assessment for steel cold-rolled coil, import, cfr main port Southern Europe was €610-640 per tonne on Wednesday, while the weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe was €690-700 per tonne, both unchanged week on week.
