Downstream flat steel prices fell in Europe in the week to Wednesday July 2, due to depressed demand and recent market slowdowns, trade sources told Fastmarkets.
Market participants attributed the current lack of demand to low interest among buyers during the summer lull.
Northern Europe
Market sources estimated the workable price for domestic cold-rolled coil in Northern Europe at €650-660 ($764-776) per tonne ex-works, compared with €690 per tonne ex-works in mid-June.
Deals were also heard at €660 per tonne ex-works this week.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe, was €650-660 per tonne on July 2, falling from €660-670 per tonne the week before.
Meanwhile, import prices for CRC remained stable this week.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Northern Europe, was €630-640 per tonne on Wednesday, unchanged week on week.
Domestic prices for hot-dipped galvanized coil also fell this week, with industry sources estimating the workable market in Northern Europe at €670-680 per tonne ex-works, compared with €680-690 per tonne in the previous assessment.
Deals were also heard at €670-680 per tonne ex-works this week.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was €670-680 per tonne on Wednesday, narrowing downward from €670-690 per tonne the previous week.
HDG import prices also remained stable this week.
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 CRC prices in Southern Europe remained stable in the week to Wednesday, according to market sources.
Market sources estimated the workable price for domestic CRC at €660-680 per tonne ex-works on Wednesday, compared with €670-700 per tonne ex-works last week.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe, was €660-680 per tonne on Wednesday, unchanged week on week.
CRC import prices also remained stable this week.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Southern Europe, was €590-630 per tonne on Wednesday, unchanged week on week.
At the same time, domestic HDG prices also remained stable, with trade sources estimating the workable price at €680-690 per tonne ex-works, the same as last week.
Consequently, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe, was €680-690 per tonne on Wednesday, unchanged week on week.
HDG import prices were also stable this week.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Southern Europe, was €670-700 per tonne on Wednesday, unchanged since mid-May.
