Suppliers were heard offering hot-dipped galvanized coil at €720-730 ($822-834) per tonne ex-works during the assessment period, compared to €730 per tonne ex-works the previous week.
Deals were also heard at €720 per tonne ex-works this week.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was €720-730 per tonne on Wednesday, falling from €730-740 per tonne in the previous week.
Market sources pointed to “weak demand” as a main contributor to the downward price trend, with mills “increasingly willing to lower prices” in order to sell their products.
On the other hand, import prices for hot-dipped galvanized coil remained stable this week.
Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, import, cfr main port Northern Europe, was €700-740 per tonne on Wednesday, unchanged since April 23.
Meanwhile, the market for domestic cold-rolled coil also showed downward changes during the assessment period.
Sources estimated the workable market for domestic CRC in Northern Europe at €700-720 per tonne ex-works.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe, was €700-720 per tonne on Wednesday, falling from €720-730 per tonne the previous week.
Concurrently, import prices for cold-rolled coil to Northern Europe also dropped in the week to Wednesday. This week, reported offers from Asia hovered around €650-655 per tonne CFR, compared to €660-680 per tonne CFR in mid-May.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, import, cfr main port Northern Europe, was €650-660 per tonne on Wednesday, falling from €660-675 per tonne the previous week.
A buyer source cited “bearish sentiment” in the European market for imported coils, which they said could lead to less activity within the market.
“Buyers have become more cautious when booking imported coil, due to ongoing uncertainties around trade measures and the upcoming implementation of the CBAM (Carbon Border Adjustment Mechanism) regulations,” the source said.
“As a result, the European market is expected to face reduced import exposure in the second half of the year,” the source added.
Southern Europe
Domestic HDG and CRC prices in Southern Europe also fell in the week to Wednesday, according to market sources.
Sources assessed the market for HDG at €720 per tonne ex-works this week, compared to offers of €730-750 per tonne ex-works heard in mid-May.
As a result, Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Southern Europe, was €720-730 per tonne on Wednesday, falling from €730-750 per tonne the previous week.
CRC prices in Southern Europe also experienced some downward movement. Sources assessed the market at €700 per tonne ex-works this week, compared to €710 per tonne ex-works in mid-May.
Fastmarkets’ weekly price assessment for steel cold-rolled coil, domestic, exw Southern Europe, was €700-710 per tonne on Wednesday, falling from €710-720 per tonne the previous week.
Import prices for both HDG and CRC were unchanged during the week.
