Downstream flat steel prices fell further in Europe in the week to Wednesday July 16, with slow demand during the holiday season still impacting the market, sources told Fastmarkets.
However, sources also said that prices might have reached their lowest possible levels this week.
Northern Europe
Domestic prices for cold-rolled coil in Northern Europe fell in the week to Wednesday, according to market sources.
Sources estimated the workable level at €630-655 ($732-761) per tonne ex-works this week, compared with €650-660 per tonne ex-works during the previous assessment period.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe was €630-655 per tonne on Wednesday, falling from €650-660 per tonne the previous week.
Meanwhile, CRC imports were stable in the week to Wednesday.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Northern Europe was €590-615 per tonne on Wednesday, unchanged week on week.
Domestic prices for HDG in Northern Europe also fell this week, with sources estimating the workable level at €640-670 per tonne ex-works on Wednesday, compared with €660-670 per tonne ex-works during the previous assessment period.
However, a deal was also heard at €645-650 per tonne ex-works.
Therefore, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe was €645-670 per tonne on Wednesday, widening downward from €660-670 per tonne the previous week.
Meanwhile, HDG imports were stable in the week to Wednesday.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Northern Europe was €690-700 per tonne on Wednesday, unchanged week on week.
Southern Europe
Domestic prices for CRC in Southern Europe also fell in the week to Wednesday, according to market sources.
Sources estimated the workable level at €620-630 per tonne ex-works this week, compared with €630-650 per tonne ex-works during the previous assessment period.
As a result, Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe was €620-630 per tonne on Wednesday, falling from €630-650 per tonne the previous week.
Regarding CRC imports, sources estimated the workable level at €600-610 per tonne CFR in the week to Wednesday, compared with €590-620 per tonne CFR during the previous week.
However, offers were also heard hovering around €590-610 per tonne CFR this week.
Therefore, Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Southern Europe was also €590-610 per tonne on Wednesday, narrowing downward from €590-620 per tonne in the previous assessment period.
Domestic HDG prices in Southern Europe also fell in the week to Wednesday, with sources estimating the workable level at €630-650 per tonne ex-works, compared with €640-670 per tonne ex-works during the previous assessment period.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe was €630-650 per tonne on Wednesday, falling from €640-670 per tonne the previous week.
On the other hand, HDG import prices were stable this week.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe was €660-690 per tonne on Wednesday, unchanged week on week.
