Local cold rolled coil (CRC) and hot dip galvanized (HDG) prices in Europe have continued to decrease during the past two weeks given the pressure from lower prices for hot rolled coils (HRC) coupled with lower bids and slow trading in the region. At the same time, import prices for both CRC and HDG have dropped as well, but this has had no significant impact on the silent trade conditions and has only been successful in the case of some stray deals for limited volumes.
More specifically, in the EU domestic CRC market, the tradable prices both in Italy and northern Europe have dropped to €655-660/mt ex-works from €690-700/mt ex-works two weeks ago and are down by €30/mt week on week. Meanwhile, offers from mills have been estimated at €660-680/mt ex-works, against €700-710/mt ex-works two weeks ago.
In the meantime, offers for imported CRC have been voiced at €620-635/mt CFR, depending on the supplier, down by €20-25/mt over the past two weeks. More specifically, the lower end of the range corresponds to offers from India and Taiwan at €620/mt CFR, down by €20/mt from two weeks ago and down by €5/mt week on week. Besides, offers for ex-South Korea CRC have been voiced at €635/mt CFR, while offers for ex-Japan and ex-Turkey CRC have been estimated at €630/mt CFR, against €655/mt CFR two weeks ago.
Meanwhile, local tradable prices for HDG in Italy have been voiced at €675/mt ex-works, down by €30/mt week on week, and against €710/mt ex-works two weeks ago, while offers from mills have been estimated at €680-690/mt ex-works, down by €30-40/mt over the past two weeks. Furthermore, while offers from mills in northern Europe have been assessed at €680-700/mt ex-works, down by €30/mt over the past two weeks, workable prices have settled at €675-680/mt ex-works.
At the same time, offers for imported HDG have been voiced at €680-710/mt CFR, depending on the supplier and terms of payment, against €725-745/mt CFR two weeks ago. Offers for ex-Vietnam Z100 HDG have been voiced at around $755/mt CFR, which translates to around €680/mt CFR, while offers ex-Vietnam HDG Z140 have been heard at €710/mt CFR through traders. Furthermore, offers for ex-India HDG Z100 have been estimated at $770/mt CFR or €690/mt CFR, while offers for Z120-140 HDG have been heard at around €710-720/mt CFR. Offers from Taiwan have been heard at €690/mt CFR, while offers for ex-Turkey HDG have settled at $785/mt CFR, or around €706/mt CFR.
$1 = €0.90