After the introduction of the EU’s Carbon Border Adjustment Mechanism (CBAM) and other trade regulations, European mills have been pushing for higher offer levels, but it remains to be seen whether the market will accept the new prices, according to sources.
One source in Northern Europe said recent price rises for flat steel products were mainly driven by mills and current demand levels are “not supporting these increases,” with consumption remaining dull.
A second source noted that sentiment remained “bullish” in the market with mills targeting higher levels but activity continued to be slow.
Limited imports and higher trade risks have led domestic mills to aim for higher offers in recent weeks, Fastmarkets understands.
Northern Europe
In Northern Europe, domestic and imported cold-rolled coil and hot-dipped galvanized coil prices were stable.
Fastmarkets’ weekly price assessment for steel CRC domestic, exw Northern Europe was €770-780 per tonne on Wednesday, unchanged week on week.
Fastmarkets’ weekly price assessment for steel HDG coil domestic, exw Northern Europe was €770-780 per tonne on Wednesday, also stable week on week.
Import prices for these products were also unchanged in the reported week, highlighting reduced market appetite and a shift in market dynamics, Fastmarkets understands.
Sources said that with CBAM and heightened risks linked with imported material, buyers were being “very careful” when trading outside the EU.
Fastmarkets’ weekly price assessment for steel CRC, import, cfr main port Northern Europe was €630-660 per tonne on Wednesday, unchanged from the previous week.
The weekly price assessment for steel CRC, import, ddp Northern Europe was €730-770 per tonne, also unchanged week on week.
Fastmarkets’ weekly price assessment for steel HDG coil import, cfr main port Northern Europe was stable at €650-700 per tonne on Wednesday, while the assessment for steel HDG coil import, ddp Northern Europe was €760-770 per tonne, also unchanged week on week.
Southern Europe
In Southern Europe, domestic and imported CRC and HDG coil prices were also broadly unchanged, Fastmarkets heard.
Fastmarkets’ weekly price assessment for steel CRC domestic, exw Southern Europe was €770-780 per tonne on Wednesday, unchanged week on week.
The weekly price assessment for steel HDG coil domestic, exw Southern Europe was also stable at €775-780 per tonne.
Import prices for these products were unchanged in the week to Wednesday, with no new trading reported during the assessment period.
Fastmarkets’ weekly price assessment for steel CRC import, cfr main port Southern Europe was stable at €620-650 per tonne, while the weekly price assessment for steel CRC import, ddp Southern Europe was €730-780 per tonne, also unchanged from the previous week.
Fastmarkets’ weekly price assessment for steel HDG coil import, cfr main port Southern Europe was €660-700 per tonne, unchanged week on week.
Fastmarkets’ weekly price assessment for steel HDG coil import, ddp Southern Europe was €750-770 per tonne on Wednesday, also stable.
