Demand for domestic cold-rolled coil and hot-dipped galvanized (HDG) coil was still sluggish in Europe, with trading largely quiet, industry sources said.
Mills in Northern Europe were heard offering CRC at €670 ($724) per tonne ex-works.
However, buyers’ estimates for the workable market level were lower, at €650-660 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Northern Europe was €650-670 per tonne on Wednesday, unchanged from October 16.
Import offers of CRC from India to Northern Europe were heard at $660-700 per tonne CFR.
Prices for domestic CRC in the Italian market were also largely unchanged during the assessment week, sources told Fastmarkets.
Suppliers in Italy were heard offering CRC at €660 per tonne ex-works, but according to sources, the workable level was closer to €650 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Southern Europe was €650-660 per tonne on Wednesday, narrowing downward by €10 per tonne from €650-670 per tonne on October 16.
Asia-origin CRC was offered to Italy at €630-650 per tonne CFR.
According to local industry sources, these offers were too close to domestic CRC prices to be workable. Furthermore, Italian buyers’ stock levels were still quite high and there was no significant need to book new material.
Domestic prices for HDG across Europe were also largely unchanged during the assessment week.
Trading in the HDG market remained slow.
In Northern Europe, offers of HDG were heard at €670-690 per tonne ex-works.
Fastmarkets’ sources estimated the workable market level at €650-660 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was €650-680 per tonne on Wednesday, down by €10 per tonne from €660-690 per tonne on October 16.
Import offers of HDG from India to Northern Europe were heard at $750 per tonne CFR.
Domestic offers of HDG in Italy were heard at €670-680 per tonne ex-works, with buyers estimating the tradeable market price at €660-680 per tonne ex-works.
Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, exw Southern Europe was €660-680 per tonne on Wednesday, unchanged from October 16.
Offers of HDG with 1 mm thickness and Z100 coating from Vietnam to Italy were heard at €720 per tonne CFR.
Material with similar characteristics from Taiwan was on offer to Italy at €735-740 per tonne CFR.
