Demand remained weak. Some European producers announced higher offer prices, but no deals were concluded at these levels, industry sources told Fastmarkets.
Thus, trading in both the cold-rolled coil (CRC) and hot-dipped galvanized (HDG) steel markets across Europe remained quiet during the assessment week, with buyers waiting to see how the situation would develop.
Some mills in Germany were heard to be targeting price increases of €30-40 ($33-44) per tonne for CRC for the first quarter of 2025.
“If you want to book some volumes now, you can get €630-640 per tonne ex-works, but for Q1 2025 the offer prices [have increased] to around €660-670 per tonne ex-works,” a buyer source based in Germany told Fastmarkets.
But the buyer source was skeptical that the mills would be able to achieve such an increase, adding that the market could eventually accept a smaller increase of €10-20 per tonne.
Fastmarkets’ assessment for steel cold-rolled coil domestic, exw Northern Europe was €640-670 per tonne on Wednesday, unchanged from October 2.
Import offers of CRC from India to Northern Europe were heard at $680-690 per tonne CFR.
The prices for domestic CRC in the Italian market also remained largely unchanged during the assessment week, sources told Fastmarkets.
Suppliers in Italy were heard targeting higher offers at €675-680 per tonne delivered, which nets back to €665-670 per tonne ex-works.
But buyers’ estimations for the workable market level were at €640-650 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, ex-works Southern Europe was €640-650 per tonne on Wednesday, narrowing downward by €10 per tonne from €640-660 per tonne on October 2.
Asia-origin CRC was on offer at €655 per tonne CFR Italy, Fastmarkets understands. But this level was “completely unworkable”, according to industry sources.
Lower offers of CRC from India and South Korea to Italy were also available in the market at €605-615 per tonne CFR, sources told Fastmarkets.
Domestic prices for HDG across Europe were also largely unchanged during the assessment week.
Trading in the HDG market remained slow.
In Northern Europe, official offers for HDG were rare, and mills conducted business on a “case-by-case” basis.
Fastmarkets’ sources estimated the workable market level at €660-690 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was €660-690 per tonne on Wednesday, unchanged from October 2.
Domestic offers of HDG in Italy were heard at €670-680 per tonne ex-works, with buyers estimating the tradeable market price at €650-660 per tonne ex-works.
Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, ex-works Southern Europe was €650-670 per tonne on Wednesday, unchanged from October 2.
Asian import offers of HDG were reported at €690-700 per tonne CFR Italy.
Offers of HDG with 0.57 mm thickness and z140 coating from Vietnam to Spain were heard at €750 CFR.
Published by: Darina Kahramanova