Firm offers of CRC from European mills were rare in the market, sources said.
“EU mills cannot supply the market [with CRC at competitive prices],” a buyer source told Fastmarkets. “[EU mills] limit CRC production and try to produce more hot-dipped galvanized coil instead because they are more competitive in that sector.”
Rare CRC offers in Northern Europe from local mills were heard around €870-880 ($935-946) per tonne, with lead times in April.
Buyers’ estimates of tradeable price ranges were as high as €830-850 per tonne ex-works, with some buyers giving lower estimations of €800-830 per tonne ex-works.
Fastmarkets’ price assessment for steel cold-rolled coil domestic, ex-works Northern Europe was €830-850 per tonne on Wednesday, down by €10 per tonne week on week from €840-860 per tonne.
Firm offers in in Southern Europe were also scarce. Only one supplier was heard to be active in Italy, offering CRC around €850 per tonne delivered (€840 per tonne ex-works), with March delivery still reportedly available. Buyers’ estimates of tradeable values were heard around €820-830 per tonne ex-works.
As a result, Fastmarkets’ price assessment for steel cold-rolled coil domestic, ex-works Southern Europe was €830-840 per tonne on Wednesday, down by €10 per tonne week on week from €840-850 per tonne.
Slow demand from end users, as well as competitive overseas offers, were major factors putting downward pressure on domestic prices, sources said.
Notably, suppliers from Vietnam, Japan, Taiwan and South Korea reportedly offered CRC at €740-760 per tonne CFR to Antwerp and to Italy for April shipment.
Deals were reported at €740-750 per tonne CFR for Japan- and India-origin coil.
A booking of around 5,000 tonnes of South Korea origin was heard in late January at €745-750 per tonne CFR to Southern Europe.
In the HDG market, competition from imports was less intense because overseas mills were unable to supply the full range of grades and dimensions required by European buyers, Fastmarkets understands.
But trading was slow, and sales were limited, due to sluggish end-user demand.
European mills were offering HDG at €880-920 per tonne ex-works in Northern Europe, mainly for April delivery. Some producers reportedly still could supply March shipment HDG.
But tradeable values were estimated as high as €860-870 per tonne ex-works.
Italy-origin HDG was heard offered to Northern Europe at €870-890 per tonne delivered, with bids for such material coming in at €840-860 per tonne delivered.
Fastmarkets weekly price assessment for steel hot-dipped galvanized coil domestic, ex-works Northern Europe was €860-870 per tonne on Wednesday, stable week on week.
Southern European producers were heard to be aiming for €900-920 per tonne delivered (€885-905 per tonne ex-works) for HDG.
In Italy, one supplier was heard offering HDG at €870-880 per tonne ex-works.
Buyers’ estimations of tradeable values for HDG in the region were around €860-870 per tonne ex-works.
As a result, Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, ex-works Southern Europe was €860-870 per tonne on Wednesday, unchanged week on week.
Overseas HDG offers to Europe were rare, with few suppliers active in the market, Fastmarkets heard.
Notably, Vietnamese suppliers of 0.5mm HDG with Z100 coating were said to be aiming for $880-890 per tonne CFR to Southern Europe.
Published by: Julia Bolotova