Tag: hot-dipped galvanized

Demand for domestic cold-rolled coil (CRC) and hot-dipped galvanized (HDG) coil remained poor in Europe, with seasonal factors supporting this trend, Fastmarkets understands.

“December is usually a quiet month. Demand is very poor. We tried to work two shifts this month, but we did not succeed, and we work one shift now,” a supplier of CRC and HDG in Northern Europe told Fastmarkets.

A second supplier source from the region told Fastmarkets that the domestic HDG market was performing better, but the CRC market “was non-existent.”

But sentiment in Northern Europe brightened slightly on the news of an upcoming safeguard review by the European Commission and ArcelorMittal’s announcement of a price increase for some flat steel products.

In Northern Europe, offers of CRC for delivery in the first quarter of 2025 were heard at €670-690 ($701-722) per tonne ex-works during the assessment week.

But activity remained low, and no major deals were heard in the market.

Buyers’ estimations for the workable market level were seen lower at €640-660 per tonne ex-works.

Based on slightly higher estimations of industry sources, Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Northern Europe was €640-660 per tonne on Wednesday, widening upward by €10 per tonne from €640-650 per tonne on December 11.

April-delivery CRC from India and Japan was heard offered to Northern Europe at €660 per tonne CFR Antwerp.

Industry sources from the region estimated the workable market level to be lower, at €640-650 per tonne CFR.

But imports of CRC to Northern Europe were considered unattractive, Fastmarkets understands.

“If you need the material in February, April-delivery CRC from Asia is too late. Besides, you can buy the material from local suppliers at similar levels and with shorter lead times. Payment terms for bookings from European suppliers are also better,” a buyer source told Fastmarkets, adding that the current exchange rate of the US dollar against the euro also makes imports unattractive.

Trading in the Northern European HDG market also remained subdued in the week to Wednesday.

Offers for HDG in the region were heard at €680-690 per tonne ex-works.

In addition, on Wednesday, Arcelor Mittal announced higher offers for some flat steel products across Europe, with HDG price for February/March delivery increasing to €750 per tonne ex-works or delivered, industry sources told Fastmarkets.

It remains to be seen if such a price level would be accepted by the market.

Buyers’ estimations for the workable market level were at €640-675 per tonne ex-works.

Fastmarkets’ weekly price assessment for steel hot-dipped galvanized coil domestic, exw Northern Europe was €640-675 per tonne on Wednesday, widening slightly upward by €5 per tonne from €640-670 per tonne on December 11.

Meanwhile, domestic prices for CRC and HDG in the Italian market went slightly down compared to the previous assessment week.

February-delivery CRC was on offer in Italy at €660-680 per tonne ex-works, industry sources told Fastmarkets.

But these offer price levels were seen to be too high to be workable.

“To be accepted in deals, the domestic CRC prices should be €20 per tonne lower,” a second buyer source told Fastmarkets.

Fastmarkets’ weekly price assessment for steel cold-rolled coil domestic, exw Southern Europe was €640-660 per tonne on Wednesday, widening downward by €10 per tonne from €650-660 per tonne ex-works on December 11.

CRC from India was on offer in the Italian market at €640-650 per tonne CFR.

Some limited volumes of CRC from Japan were offered in the Italian market at €630 per tonne CFR, industry sources told Fastmarkets.

Domestic offers of HDG in Italy were heard at €680-710 per tonne ex-works, with buyers estimating the tradeable market price at €660-680 per tonne ex-works.

Fastmarkets’ price assessment for steel hot-dipped galvanized coil domestic, exw Southern Europe was €660-680 per tonne on Wednesday, widening slightly downward by €10 per tonne from €670-680 per tonne on December 11.

Asian-origin HDG was on offer to Italy at €700-720 per tonne CFR, Fastmarkets understands.