Southern Europe
Suppliers in Italy were heard offering hot dipped galvanized coil at €740-750 ($827-839) per tonne ex-works during the assessment period.
Buyers’ estimated tradeable values at €730-740 per tonne ex-works.
Spanish suppliers were hoping to achieve even higher numbers of €770-785 per tonne ex-works, but buyers saw these offers as unworkable.
Lack of real demand from the key consumer sectors – the automotive and construction industries – as well as sufficient stocks at buyers, did not support further rises.
“Mills abandoned the idea of pushing [flat steel] prices further upward [and] offers at €800 per tonne [ex-works] are no longer on the table. Moods have soured,” a buyer in Spain said.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe, was €740-750 per tonne on Wednesday, narrowing upward slightly compared with €730-750 per tonne in the previous week.
In terms of imports, some Asian suppliers were heard offering HDG at €700-730 per tonne CFR to ports in Southern Europe. The lowest offers were from Vietnam at €680-685 per tonne CFR.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe, was €670-700 per tonne on May 14, with the price range widening upward compared with €670-680 per tonne the previous week.
Meanwhile, the markets for both imported and domestic cold-rolled coil (CRC) remained largely quiet in the region during the assessment period, with prices unchanged week on week.
Offers of domestic CRC in the Italian market were heard around €720-730 per tonne ex-works, with buyers estimating the workable market level at €710-730 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe, was unchanged at €710-730 per tonne on Wednesday.
In terms of imports, Asian suppliers were heard offering CRC to Italy at €650-670 per tonne CFR. From Turkey, offers were heard at €670 per tonne CFR.
Bids were reported at €630-640 per tonne CFR.
Northern Europe
CRC and HDG prices in Northern Europe remained largely stable in the week to May 15, market sources said, with only domestic cold-rolled coil showing any changes in pricing.
Industry sources reported muted demand for both products in the region, with bookings mainly hand-to-mouth, and buyers expecting prices to dip.
Suppliers, however, were reluctant to step back, citing high costs of production.
In addition, market sources pointed out that mills were unwilling to reduce spot prices due to imminent long-term contract negotiations with end-users for the second half of 2025.
Mills in Northern Europe were heard offering CRC at €730-750 per tonne ex-works during the assessment week. But buyers’ estimates of tradeable values were lower, at €720-730 per tonne ex-works.
As a result, Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe, was €720-730 per tonne on May 14, narrowing downward from €720-740 per tonne the previous week.
HDG prices in Northern Europe were unchanged during the assessment week.
Market participants estimated the tradable market level for HDG in Northern Europe at €730-750 per tonne ex-works, against offers of €750-780 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was €730-750 per tonne on Wednesday, unchanged week on week.
