The upward trend was even stronger in the Northern European market due to force majeure circumstances, affecting production of German steelmaker Salzgitter’s hot-rolling mill, Fastmarkets understands.
A fire occurred at the hot-rolling mill at Salzgitter Flachstahl in southeast Lower Saxony, Germany on February 28, which limited deliveries and production for hot-rolled, cold-rolled and hot-dipped galvanized coil, Fastmarkets reported.
According to industry sources, this event could support the domestic flat steel prices up further in Germany.
Northern Europe
Mills in Northern Europe were heard offering mid-May/June delivery CRC at €730-750 ($769-790) per tonne ex-works, industry sources told Fastmarkets.
In comparison, lower offers were available in the market at €710-740 per tonne ex-works in the previous assessment week.
Fastmarkets’ sources estimated the tradeable market level for CRC during this assessment week at €720-740 per tonne ex-works, with some buyers saying that €700 per tonne ex-works could still be negotiated.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Northern Europe was €700-740 per tonne on Wednesday, increasing by €10-30 per tonne from €690-710 per tonne on February 26.
Some small volume transactions with imported CRC from Taiwan and South Korea were heard at €670 per tonne CFR Antwerp, industry sources told Fastmarkets.
An upward trend was also observed with the domestic HDG prices in Northern Europe, Fastmarkets understands.
Offers of the material were heard at €740-750 per tonne ex-works, with buyers estimating the workable market level at €720-740 per tonne ex-works.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was €720-740 per tonne on Wednesday, increasing by €5-10 per tonne from €710-735 per tonne on February 26.
Asia-origin imports of HDG to Northern Europe were considered unattractive due to the trade risks and the fast exhaustion of the current quotas, industry sources told Fastmarkets.
Italy
CRC and HDG prices in Italy were also increasing gradually during the assessment week to Wednesday March 5, industry sources told Fastmarkets.
The latest offers of domestic CRC heard available in the market were €710-740 per tonne ex-works, Fastmarkets understands.
However, buyers’ estimations for the tradeable market level were lower at €700-710 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Southern Europe was €700-710 per tonne on Wednesday, up by €10 per tonne from €690-700 per tonne on February 26.
Asian suppliers were heard offering CRC in the Italian market at €650-660 per tonne CFR.
Indian suppliers were heard selling some CRC volumes to Italy at €650 per tonne CFR, industry sources told Fastmarkets.
Regarding domestic HDG prices, local suppliers were heard offering the material at €730-740 per tonne ex-works.
Buyers’ estimations for the tradeable market level were at €720-730 per tonne ex-works.
Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, exw Southern Europe was €720-730 per tonne on Wednesday, up by €20 per tonne from €700-710 per tonne on February 26.
