European domestic prices for steel cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) were largely stable in the week to Wednesday June 10, although the import markets for these products were extremely quiet because sector participants were waiting for clarity on the new safeguarding measures that the EU intended to impose, starting on July 1.
In Northern Europe, indications of tradeable prices for both CRC and HDG were heard at €800 ($924) per tonne ex-works.
Market participants noted that the lack of available imported CRC, as well as the fact that the price of annealing was included in the production of HDG and was not an extra, made the price for these two products equal, when normally HDG costs €10-20 per tonne more.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe, was €800 per tonne on June 10, narrowing from €790-810 per tonne on June 3.
The corresponding price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was also also €800 per tonne on June 10, similarly narrowing from €790-810 per tonne on June 3.
In Southern Europe, Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe, was €800-820 per tonne on June 10, while the weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe, was at the same level, both unchanged week on week.
In the import sector, no new offers were heard during the week, with buyers preferring to wait and watch until country-specific quotas under the new safeguards became clear.
