Downstream flat steel prices fell in Europe in the week to Wednesday June 25, with the current seasonal slowdown severely affecting demand across the region, industry sources told Fastmarkets.
“Prices are under pressure because of the summer,” a distributor source said, who added that market participants might have to wait until September for price increases to be seen.
A producer source also pointed to cheaper imports from Asia as a cause of “significant disruption” in the European market, particularly shipments from Indonesia.
Northern Europe
Suppliers were heard offering cold-rolled coil at €660-670 ($771-783) per tonne ex-works during the assessment period, compared with €685-690 per tonne ex-works the previous week.
This week, deals were also heard at €670 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe, was €660-670 per tonne on Wednesday, falling from €685-690 per tonne last week.
Import prices for CRC into Northern Europe also dropped in the week to Wednesday, with offers from Asia around €630-640 per tonne CFR, compared with €640 per tonne CFR the week before.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Northern Europe, was €630-640 per tonne on Wednesday, falling from €640-660 per tonne a week earlier.
Meanwhile, domestic prices for hot-dipped galvanized coil also fell this week, with offers heard around €670-680 per tonne ex-works, compared with €690-700 per tonne ex-works during the previous week.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was €670-690 per tonne on June 25, falling from €690-700 per tonne the previous week.
Import prices for HDG also dropped this week, with suppliers heard offering €690-700 per tonne CFR, compared with €720 per tonne CFR in May.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Northern Europe, was €690-700 per tonne on Wednesday, falling from €700-740 per tonne the previous week.
Southern Europe
Domestic CRC prices in Southern Europe also fell during the week to Wednesday, according to market sources.
Suppliers were heard offering €680 per tonne ex-works this week, compared with €680-680 per tonne ex-works earlier in the month.
Meanwhile, deals were heard at €660-670 per tonne ex-works.
Consequently, Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe, was €660-680 per tonne this week, falling from €680-700 per tonne the previous week.
Import prices for CRC were unchanged during the week.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Southern Europe, was €590-630 per tonne, unchanged week on week.
At the same time, domestic HDG prices also dropped, with trade sources estimating the market at €680-690 per tonne ex-works, compared with €700-720 per tonne the previous week.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe, was €680-690 per tonne on June 25, falling from €700-720 per tonne the previous week.
Import prices for HDG into Southern Europe were also unchanged during the week.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe, was €670-700 per tonne, unchanged week on week.
